Adriatic Metals Plc’s Vares project could resume production by the end of 2022 following a hiatus of more than three decades, according to Chief Executive Officer Paul Cronin. It’s part of a nascent trend toward restarting so-called “zombie” mines operations which have been shuttered for reasons varying from weak prices to owner bankruptcy or political unrest.“Some of these old mining assets around the world that have been discarded and dumped are an eyesore they’re a problem. They create potential environmental issues that need to be resolved,” Adriatic’s Cronin, a former investment banker, said in a phone interview. “If we can convert the ‘zombie’ into something that adds value, that resolves some of those issues and shareholders can get a return from them, that’s great.”
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Trafigura bets on green-nickel squeeze in defiance of China cure
Just weeks after a novel production method upended the nickel market, two of the top names in the battery-supply chain made a play that suggests the world’s worries over sourcing cheap, clean supplies of the metal are far from over.
Commodity trader Trafigura Group and Elon Musk’s Tesla Inc. signed a deal in late March to enter the Goro mine in New Caledonia, part of a group that will take the operation off the hands of Vale. The transaction wasn’t a surprise, with Vale in talks to offload the under-performing mine for months. But the deal’s timing was telling.
What does the Biden administration mean for ASX shares?
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With Joe Biden due to take office this week, many investors are wondering what this could mean for ASX shares. Ahead of his inauguration Biden has revealed a $1.9 trillion coronavirus relief plan aimed at combating the pandemic and the economic crisis it has triggered.
In the short term, this additional fiscal stimulus should help bolster the battered US economy, but it has also impacted global share markets. Prices of commodities used in infrastructure projects have rallied since Biden announced the package, while technology stocks have struggled.
These ASX stocks just got a big upgrade on the back of Tesla (NASDAQ:TSLA)
Brendon Lau | January 14, 2021 3:18pm |
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There’s one group of ASX stocks that just got a big valuation boost by the analysts at
These are ASX nickel miners as the broker lifted its price forecast for the commodity due to growing demand from battery makers.
Nickel is a key ingredient in batteries that are used by electric car manufacturers, such as
The nickel price on supercharge
Traditional car makers are also joining the electrification rush. The world’s largest car maker, Volkswagen (VW), is on track to become a market leader, reported