Apeak at the most significant events that combined in 2010 to keep theprice of nickel rolling along, putting the majority of producers in aposition to make a profit.
Nodoubt nickel producers are breathing a sigh of relief today because theprice of nickel ended the year above US$11 a pound. That's good newsfor the new, high-cost producers coming on stream and for existingproducers in strike-bound Ontario, Canada that recently came backonline.
What events in 2010 contributed to this happy state of affairs?
Following, are my nominations for the ten most importantevents that kept demand for nickel rolling along and what managed tolimit the supply of nickel, thus keeping prices relatively high, sothat most producers could have a good chance of making a profit.
1. A year-long strike at Vale SA's nickel operations in Sudbury finally came to an end in July thanks to intervention by the Ontario provincial government.
2. The tug-of-war between two Russian oligarchs for control of Norilsk Nickel continuedthroughout the year, stifling the world's largest nickel producer fromconcentrating on productivity and environmental improvements to enhanceshareholder value. https://bit.ly/dIBz0d
Vale SA's Goro Nickel Laterite Project in New Caledonia
3. Two major high pressure acid leach (HPAL) nickel laterite operations inched toward full production under the watchful eye of nickel analysts around the world, some of whom doubt these projects can make a buck.
4. Stainless steel production rebounded from theglobal financial crisis and nickel continued to find new markets inde-carbonizing the global economy through solar energy plants, windfarms, hydro power plants, biomass plants, fuel cell power plants,waste heat power generating plants and carbon sequestering applications.
5. The European Union Court of Justice announced itwill decide (probably in 2011) if the recent classification of nickelcompounds as carcinogens, mutagens and reproductive toxicants is valid.https://bit.ly/aI8pFW
6. Chinese companies made significant investmentsin junior nickel exploration and producing companies in Canada. Juniornickel exploration companies increased their spending on grassrootsprojects, advancing projects across the country.
7. Cliffs Natural Resources gained control of the chromite production potential in Ontario's Ring of Fire, leaving Noront Resources holding the potential for nickel production in this greenfields project that is not without controversy. https://bit.ly/bKH1as
8. Glencore International Group continued to seek control of more nickel production capacity worldwide. https://bit.ly/9socXZ
9. Nickel health classifications in Europe continued to give nickel platers the chills over cancer risks. This chill had a cooling effect on other, more important markets as well. https://bit.ly/9vBZtu
10. Rio Tinto joined the long list of new nickelproduction capacity by announcing plans to develop the Eagle mine inMichigan State by 2013. https://www.eagle-project.com/