Market Overview

Developing Markets Heap Greater Importance on Nickel Production

Share:

NEW YORK, Oct. 15, 2020 /PRNewswire/ -- Nickel is a crucial element used for several applications such as manufacturing nickel steels, electroplating and superalloys. Overall, the increasing rate of industrialization coupled with infrastructure development has grown the demand for steel across the globe. In addition, there has been a surge in demand for nickel sulphate in recent years as global consumption increased by 28% in 2019, primarily driven by the electric vehicle (EV) market. And, as the EV revolution gathers speed, demand for battery materials will accelerate. According to the research by IDTechEx, nickel is the most expensive material in electric vehicle batteries after cobalt and is also one of the most highly used outside of the battery industry. Here To Serve Holding Corp. (OTC:HTSC), Tesla, Inc. (NASDAQ:TSLA), PolyMet Mining Corp. (NYSE:PLM), Giga Metals Corp (OTC:HNCKF), Clean TeQ Holdings Ltd, Melbourne (OTC:CTEQF)

Most automakers utilize nickel-based batteries for their balance of energy and power density; for example BMW, Hyundai and Renault use variants of the Lithium Nickel Manganese Cobalt Oxide (NMC) chemistry, while Tesla uses a Lithium Nickel Cobalt Aluminium Oxide (NCA) chemistry. Tesla CEO Elon Musk said on a post-earnings call back in July that "Tesla will give you a giant contract for a long period of time if you mine nickel efficiently and in an environmentally sensitive way." According to a report by the Verge, Musk also explained that "In order to scale, we really need to make sure that we're not constrained by total nickel availability. I actually spoke with the CEOs of the biggest mining company in the world and said, 'Please make more nickel, it's very important."

Here To Serve Holding Corp. (OTC:HTSC) announced breaking news that's, "its wholly owned subsidiary, Fortune Nickel and Gold Inc. ("Fortune") retained Prairie Fire Enterprises to investigate, photograph and plan Fortune's exploration mining in Timmins, Ontario.

Prairie Fire performed an environmental investigation of the Fortune nickel claims by helicopter to map out the area's operating mines, mill plants, access and infrastructures.  The geological team also made quick drops to take GPS readings on outcrops and sampling points, and locate the historical high-grade RCD hole with 3.5% Ni and 1.2% Cu.  This drill hole is unique and one of the highest-grade nickel-bearing holes between Timmins and the Quebec border.

In addition, Prairie Fire has reported to Fortune that the Canada Nickel deposit in Crawford township is similar in geology to Fortune's claims in Gowan, except the geological  unit in Gowan is much larger plus it has several types of intrusive porphyries that also host large copper and gold systems.

Fortune's CEO, Paul Riss, said, 'We are very excited about the on-going exploration progress and the attention nickel is receiving in the electric vehicle battery supply chain.  We have read that nickel is arguably the single most important metal component in electric vehicle batteries.  Elon Musk has been quoted as saying that the battery cells should be referred to as nickel-graphite, because the primary constituent in the cell is nickel.'"

Tesla, Inc. (NASDAQ:TSLA) announced earlier this month that it has produced just over 145,000 vehicles and delivered nearly 140,000 vehicles. "Our net income and cash flow results will be announced along with the rest of our financial performance when we announce Q3 earnings. Our delivery count should be viewed as slightly conservative, as we only count a car as delivered if it is transferred to the customer and all paperwork is correct. Final numbers could vary by up to 0.5% or more. Tesla vehicle deliveries represent only one measure of the company's financial performance and should not be relied on as an indicator of quarterly financial results, which depend on a variety of factors, including the cost of sales, foreign exchange movements and mix of directly leased vehicles," Tesla indicated.

PolyMet Mining Corp. (NYSE:PLM) is a mine development company that owns 100% of the NorthMet Project, the first large-scale project to be permitted within the Duluth Complex in northeastern Minnesota, one of the world's major, undeveloped mining regions. NorthMet has significant proven and probable reserves of copper, nickel and palladium – metals vital to global carbon reduction efforts – in addition to marketable reserves of cobalt, platinum and gold. Earlier in September the Company announced that a Ramsey County District Court judge found that the Minnesota Pollution Control Agency (MPCA) did not engage in any procedural irregularities in connection with the processing of the National Pollutant Discharge Elimination System (NPDES) permit for the NorthMet copper-nickel-precious metals project, according to Poly Met Mining, Inc., a wholly owned subsidiary of PolyMet Mining Corp. 

Giga Metals Corp (OTCQB:HNCKF) provided earlier in September an update regarding certain nickel market developments. "We were not surprised to learn today about Vale's decision to place their High Pressure, High Temperature Acid Leach (HPAL) operation in New Caledonia, commonly known as Goro, on care and maintenance" said Mr. Vydra.  "HPAL is exceedingly complex and can be prone to failure. Even the best designed and constructed facilities must rely on experienced and well-trained personnel or they are likely to suffer setback after setback." Earlier this year the Ambatovy HPAL operation in Madagascar was also placed on care and maintenance. These two operations represent nameplate capacity of close to 120,000 tons per year of nickel and 10,000 tons per year of cobalt.

Clean TeQ Holdings Ltd, Melbourne (OTCQX:CTEQF) announced earlier this month the achievement of a key milestone in the Sunrise Battery Materials Project - completion of the Sunrise Project Execution Plan ('PEP'). The PEP outcomes confirm Sunrise's status as one of the world's lowest cost, development-ready sources of critical battery raw materials. In production it will be a major supplier of nickel and cobalt to the lithium-ion battery market, and scandium to the aerospace, consumer electronics and automotive sectors. "We have a clear vision for how to create a sustainable auto supply chain of the future. Our team is proud to present that vision today. Sunrise is a long-life, lowcost, development-ready asset which is a template for consistent, sustainable and auditable nickel and cobalt supply. We cannot anticipate how long it will take to have the project funded and in development, but we can be patient with such a strategically important asset, and we are fully committed to ensuring it is developed with partners who understand the value that responsible supply chain integration brings."

Subscribe Now! Watch us report LIVE https://www.youtube.com/FinancialBuzzMedia

Follow us on Twitter for real time Financial News Updates: https://twitter.com/financialbuzz

Follow and talk to us on Instagram: https://www.instagram.com/financialbuzz

Facebook Like Us to receive live feeds: https://www.facebook.com/Financialbuzz/

About FinancialBuzz.com 

FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.

Please Note: FinancialBuzz.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on http://www.FinancialBuzz.com (the 'Site') is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. FinancialBuzz.com has not been compensated directly by any of the companies mentioned here in this editorial unless mentioned otherwise. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. FinancialBuzz.com receives fees for producing and presenting high quality and sophisticated content on FinancialBuzz.com along with other financial news PR media services. FinancialBuzz.com does not offer any personal opinions, recommendations or bias commentary as we purely incorporate public market information along with financial and corporate news. FinancialBuzz.com only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. For here to serve holding corp. video production, filming editing, news reporting, financial and corporate news dissemination, FinancialBuzz.com has been compensated three thousand dollars by meridian ventures. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. FinancialBuzz.com will always disclose any compensation in securities or cash payments for financial news PR advertising. FinancialBuzz.com does not undertake to update any of the information on the editorial or Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security. FinancialBuzz.com, members and affiliates are not responsible for any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. FinancialBuzz.com. By accessing this editorial and website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by FinancialBuzz.com constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by FinancialBuzz.com. Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use, please visit: http://www.financialbuzz.com.

Media Contact:
info@financialbuzz.com
+1-877-601-1879
www.FinancialBuzz.com

 

Cision View original content:http://www.prnewswire.com/news-releases/developing-markets-heap-greater-importance-on-nickel-production-301152944.html

SOURCE FinancialBuzz.com

View Comments and Join the Discussion!
 
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com