Daily Mining Industry Report: February 17, 2025
February 17, 2025Daily Mining Industry Report: February 19, 2025
February 19, 2025Daily Mining Industry Report: February 18, 2025
Canadian Mining News
Power Nickel Raises $40 Million for Quebec Project
Power Nickel has announced a private placement to raise approximately $40 million (US$28 million) for exploration at its Nisk nickel-copper-platinum group metals project in Quebec.
Global Mining Developments
Glencore Considers Moving Primary Listing Away from London
Swiss mining giant Glencore is contemplating relocating its primary listing from London to Sydney or New York, following pressure from Australian hedge fund Tribeca Investment Partners. This potential move comes as Glencore reports a four-year low in profits, with adjusted earnings dropping to $14.4 billion and a net loss of $1.6 billion, partly due to falling coal prices.
China Proposes New Rules to Tighten Control Over Rare Earth Sector
China has proposed new regulations to strengthen control over its rare earth sector, which accounts for 90% of global refined rare earth production. The proposed rules include quotas for mining, smelting, and separation, as well as enhanced monitoring mechanisms.
Technological Advancements
Northvolt Sells Heavy Industry Battery Business to Scania
Swedish battery manufacturer Northvolt has agreed to sell its electric battery packs business for heavy industry, Northvolt Systems Industrial, to its partner Scania. This sale is part of Northvolt's restructuring efforts following its U.S. Chapter 11 bankruptcy filing in November.
Market Trends
Indonesia's Control of the Global Nickel Market
Indonesia has solidified its dominance in the global nickel industry, accounting for 61% of the world's refined nickel production by 2024. This surge is largely due to substantial investments in nickel processing facilities, primarily from Chinese enterprises. While this expansion supports industries like electric vehicle manufacturing, it has also raised environmental and economic concerns among global competitors.
Disclaimer
The information in our daily posts is intended solely for general informational purposes. We do not guarantee the accuracy, completeness, or reliability of any content provided, and we are not responsible for any errors, omissions, or outcomes resulting from using this information. Readers are advised to verify facts independently and consult appropriate professionals or official sources before making any decisions or taking action based on these reports—all responsibility lies with the reader.
