Working together?I wonder if Noront is considering the benefit of working together with KWG, to build one mine one shaft and go after the Chromite together first seeing that the price of Nickle is continueing to plummet or has that ship already sailed with KWG's recent agreement with China?
Nickel prices continue to plummet
https://www.cbc.ca/m/touch/canada/sudbury/story/1.3334433
Posted:Nov 24, 2015 4:00 PM ET
Last Updated:Nov 24, 2015 4:00 PM ET
Barton snapped this golden shot of Sudbury's Big Nickel and Superstack at Dynamic Earth during a solar storm in March 2015. Matthew Barton
The price of nickel and other base metals continues to plummet.
Nickel prices have dropped about 40 per cent this year alone.
As of early this week, nickel was trading at about $3.75 US a pound — and one observer says he's not sure if nickel has hit bottom.
Goodman School of Mines executive director Bruce Jago told CBC News the problem is that China's building boom has slowed down, and parts of Europe are in recession, so there's an oversupply of metals on the market.
Jago said there are not enough purchasers, and companies that mine in Sudbury are going to be looking for ways to cut costs.
"Layoffs are part of it, decreasing capital expenditures are part of it, deferred expenditures and so on," he said.
Two mines closed recently in Sudbury: KGHM's McCreedy West mine and First Nickel's Lockerby mine.
The news is a little better for gold miners, Jago noted.
"I think they're doing fairly well in terms of keeping costs under control and so on, and gold, it's been hit hard, but it hasn't been hit as hard as base metal mines."