High nickel prices have triggered a restart of frozen mines

The huge rise in nickel prices prompted many companies to restart operations at their mines. In Australia, three companies Avebury Nickel, Poseidon Nickel and Panoramic Resource announced the reopening of their nickel mines, hoping to profit well from the rapid rise in nickel prices. In addition, other global manufacturers are expected to follow suit.

Avebury announced plans to resume mining at its nickel deposits in Tasmania after shutting down operations for nearly six years. The company plans to invest nearly $ 20 million to open a mine that will produce about 12,000 tonnes of nickel concentrates per year. The facility is expected to be able to restart in early 2015.

Poseidon is reportedly mulling plans to reopen a nickel mine in Western Australia. Panoramic Resource also announced plans to resume mining operations at its Copernicus mine. According to representatives of the Norilsk Nickel company, trend prices for nickel may lead to this. that many global firms will go to restart mines.

Nickel prices rose substantially in 2014 following a ban imposed by the Indonesian government on the export of raw nickel from the country. According to analysts, the output of nickel after the mine restart will still not be sufficient to prevent a global shortage. Nickel price forecasts from several agencies hint at further growth in excess of $ 25,000 per tonne from current levels.