Global demand for nickel could rise fourfold by 2050, according to BHP Group. All thanks to electric vehicle demand. In fact, according to the International Energy Agency, about a fifth of all cars will be electric this year. With those accelerating numbers, we’ll see a major boost to worldwide demand for key battery materials, including nickel. Even Jess Farrell, BHP’s asset president of Nickel West, says, “We anticipate demand for nickel in the next 30 years will be 200% to 300% of the demand in the previous 30 years.” That’s a major catalyst for companies such as Power Nickel Inc. (TSXV: PNPN) (OTCBB: PNPNF), BHP Group (NYSE: BHP), Glencore (OTC: GLNCY), Vale (NYSE: VALE), and Canada Nickel Company (OTC: CNIKF).
Look at Power Nickel Inc. (TSXV: PNPN) (OTCBB: PNPNF), For Example
Main Zone
- 0.97% Ni, 0.45% Cu, 0.07% Co, 0.80 g/t Palladium, 0.27 g/t Platinum over 16.4m in Hole PN-23-023 Including
- 1.08% Ni, 0.50% Cu, 0.08% Co, 0.91 g/t Palladium, 0.31 g/t Platinum over 13.5m
- 1.37% Ni, 0.44% Cu, 0.10% Co, 1.11 g/t Palladium, 0.57 g/t Platinum over 5.6m
- 0.57% Ni, 0.17% Cu, 0.04% Co, 0.47 g/t Palladium, 0.18g/t Platinum over 14.8m in Hole PN-23-024 Including
- 0.92% Ni, 0.32% Cu, 0.06% Co, 0.59 g/t Palladium, 0.34g/t Platinum over 4.85m, And
- 1.03% Ni, 0.17% Cu, 0.07% Co, 1.13 g/t Palladium, 0.1g/t Platinum over 2.3m in Hole PN-23-024
- Drilling has completed for the winter season, and will resume in the summer. Holes PN-23-025 to PN-23-035 are awaiting assay results, and several have encountered significant intervals of massive sulfides.
Power Nickel continues to confirm the presence of high-grade Ni-Cu-Co-PGE mineralization in the Main Zone of its Nisk project near James Bay, Quebec. In addition, step out exploration drilling 800m east of the Main Zone shows indications of a new Ni-Cu-Co-PGE zone within the same ultramafic sequence of rocks. The Main Zone drill results for holes PN-23-23 and PN-23-24 extend mineralization up dip from previous high-grade holes into an area previously believed to be a low grade zone between two high grade lodes.
New Discovery 800m east of Main Zone
0.22% Ni, 0.42% Cu, 0.01% Co, 0.71 g/t Palladium, 0.31 g/t Platinum over 4.9m Hole PN-22-020
Late in the fall 2022 drill program, two holes (PN-22-020 and PN-22-021) tested an exploration target at shallow depths approximately 800m and 600m respectively east of the high-grade Main Zone. Hole PN-22-021 did not intersect sulphide mineralization, but further to the east hole PN-22-020 intersected three (3) zones of sulphides with significant Ni-Cu-Co-PGE mineralization. This hole contained low amounts of sulphides but with a high ratio of Ni-Cu-Co-PGE mineralization. The area will require further testing for potential massive sulphide zones, and both holes are good candidates for downhole EM surveying to look for off-hole EM conductors.
Other related developments from around the markets include:
BHP Americas President Rag Udd said it is imperative to streamline the permitting process, push for regulatory and fiscal certainty for the development of large mining investments, while highlighting the natural resources company's willingness to increase its contribution to the country. The President of BHP Americas, Rag Udd, spoke at the World Copper Conference and called for a broad public-private agreement to enable new long-term investments in the mining sector in Chile, guaranteeing faster permit delivery and ensuring regulatory and fiscal certainty. In a panel discussion with other mining company executives, Rag Udd addressed the urgent need to reduce investment uncertainty so that the industry can keep developing capital-intensive projects that can continue to contribute to the country's development.
Glencore Chief Executive Officer, Gary Nagle recently noted: “First quarter production was broadly in line with our expectations, accounting for portfolio changes and operational conditions, including the disposals / closures of some zinc and lead mines in the Americas during 2022. Full year production guidance is unchanged from that presented at Glencore’s investor presentation in December 2022. “Our Marketing segment continued to perform well through Q1 2023, particularly within energy products, such that extrapolating Q1’s Marketing Adjusted EBIT has us, once again, on track to exceed the top end of our $2.2-3.2 billion p.a. long-term guidance range.”
Vale distributed MYR40,000 worth of Hari Raya Aidilfitri food aid to various communities in Manjung. The initiative, which benefits 200 socioeconomically vulnerable families, is a continuation of the company’s flagship MYR2.0 million ‘Vale Bersama Manjung’ community assistance programme, which started during the early days of the pandemic in 2020. To ensure the effectiveness in the delivery of the festive food aid programme, Vale collaborated closely with local community chiefs in Lekir, Beruas, Pengkalan Baharu and Pangkor to identify the families most in need in various locations in the district.
Canada Nickel Company announced assay results that indicate an expansion of high grade, near-surface nickel mineralization at the Texmont property located 36 kilometres south of Timmins, Ontario. Mark Selby, CEO of Canada Nickel Company, said, "The latest assay results continue to confirm our thesis of near-surface high grade intervals within thick mineralized sections which support the potential for near-term, smaller scale, open pit production. Of particular note, we are excited by the near-surface higher grade interval in hole TEX23-32 in the northern lens which is nearly half a kilometre from the southern high-grade lens. We have now planned additional drilling at the northern lens. We are looking forward to delivering an initial resource and Preliminary Economic Analysis on Texmont this year as its near-term production potential is highly complementary to our large-scale Crawford and regional nickel sulphide project potential."
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