Sherritt lifts 2020 nickel guidance

Nickel and cobalt producer Sherritt raised its 2020 nickel production guidance from the previous year at its Moa joint-venture in Cuba, while cobalt output expectations were unchanged.

Sherritt expects to produce 32,000-34,000 metric tons (t) of nickel in 2020 at its joint-venture enterprise with General Nickel of Cuba, up by about 3pc from last year. Cobalt production outlook for the site is unchanged from the previous year at 3,300-3,600 t/yr.

Nickel output from the Moa joint venture increased by 8pc to 33,108t in 2019, while cobalt production moved higher by 4pc to 3,376t of cobalt in the same period.

At Ambatovy in Madagascar, Sherritt's former joint venture with Sumitomo and Korean Resources, nickel production increased by 2pc to 33,733t in 2019 compared with the previous year and cobalt production also grew by 2pc to 2,900t from the prior year period.

Sherritt became a defaulting shareholder in the Ambatovy Nickel Project on 5 March 2019. It did not provide production guidance for the upcoming year as it no longer considers it an operating segment for its accounting purposes.

By Nicholas Bell

News No: 8318
Date: 2020/01/23 - 17:41
News Source: Argus Media

nickel  cobalt  Korean  Madagascar 


Leave a Comment:


BHP CEO says company needs more copper, nickel

BHP (NYSE, LON, ASX:BHP) will be looking to expand in copper and nickel to position itself well in a world that is decarbonising, new chief executive Mike Henry said on Tuesday.

European cobalt prices start 2020 on the rise

European cobalt metal prices have increased since the start of the year, as the market anticipates higher demand and the electric vehicle (EV) market takes off in Europe.

Malaysia’s Idemitsu Styrene Monomer cuts production

Malaysia's only styrene monomer (SM) producer, Idemitsu Styrene Monomer (ISM), has reduced operating rates by 10pc at its 241,000 t/yr unit this month because of negative production margins.

Viewpoint: Falling cobalt prices belie positive outlook

After a volatile year, cobalt prices ended 2019 on a downward trend, but the medium-to-long term outlook remains strong, with prices expected to recover.

Korea Line wins Shell charter deal for LNGCs

South Korean shipping firm Korea Line has signed a $307.4mn charter contract to operate two new LNG carriers (LNGCs) for at least seven years on behalf of Shell.

China to keep ferro-alloys, metals tariffs in 2020

The Chinese government is maintaining its export duties on the main ferro-alloys for 2020.
Upcoming Events
 Mines & Metals

Mine & Business Today

 Scrap & Recycling


Our partners