Post by
goldennorth on Jun 28, 2021 11:01am
Nickel Prices On The Rise.
Nickel’s price was down a slight 0.7% to $18,390 per tonne at 9am ( Monday June 28, 2021) from $18,523 per tonne on Friday at the close. The metal was the best performer last week, rising by 6% from last week Monday’s closing price of $17,450 per tonne.
Nickel’s rise followed reports that Indonesia plans to restrict investment in nickel pig iron and ferro-nickel smelters. “Instead, it wants to encourage the production of nickel sulphate plants that would feed the EV battery sector,” ANZ commodity research analysts Brian Martin and Daniel Hynes.
This is great news for Horizonte Minerals PLC 100% owned Araguaia Nickel Project. The Base Case and the Stage 2 Expansion Case for the 100% owned Araguaia nickel project Feasibility Study use US$14,000 nickel.
With the Mineral Reserve of 27.2 Mt and a life of mine of 28 years based on the annual ore throughput to the RKEF plant of over 900,000 t/a. This mine will be massive.