Commodities surged across the board last week as the world imposed economic sanctions on Russia in response to its invasion of Ukraine, with the trend continuing into the second week of March.
Countries and jurisdictions across the world are imposing sanctions on Russia in light of its invasion of Ukraine, which is having a ripple effect on global commodities.
The nickel price has jumped to its highest mark since August 2011 as supply struggles to keep up with the demand for the sought-after base metal.
BHP has lent its support to Tanzanian miner Kabanga Nickel, the owner of the world’s largest ‘development-ready’ nickel sulphide deposit. Read more
Poseidon Nickel continues to make progress at its Black Swan project in Western Australia with recent drilling and surveys set to increase the resource and reserve base of the Silver Swan deposit.
IGO has acquired Western Areas and added some of the highest-grade nickel mines in Australia to its portfolio.
Mincor Resources has achieved a major milestone at the Kambalda nickel complex in Western Australia with first development ore produced from its Northern Operations.
BHP and Wyloo Metals have been unable to come to a mutually beneficial agreement regarding the acquisition of Noront Resources after talks broke down between the two.