Project Overview - Kabanga Nickel Project的首次经济研究发布，该项目有近50年的历史[25] - 该项目包括在Kabanga的地下矿山和选矿厂，以及在Kahama的湿法冶金精炼厂[25] - 矿山计划为22年，基于测量、指示和推断的资源[29] - 选矿厂的镍平均回收率为87.3%，铜为95.7%，钴为89.6%[37, 39] - 湿法冶金精炼厂的镍回收率为97.2%，铜为93.0%，钴为97.7%[42] Production and Infrastructure - 矿山年处理量为340万吨[34, 39] - 生产的精矿平均镍品位为17.3%[38, 39] - 计划年产5万吨镍（以硫酸镍六水合物形式），7千吨铜阴极（LME A级，99.99%），4千吨钴（以硫酸钴七水合物形式）[44] - 通过新的标准轨距铁路（SGR）从Isaka到Dar es Salaam运输精矿和最终产品[46, 53] Economics and Future Plans - 项目总收入预计为236.8亿美元[77] - 税后自由现金流为80.3亿美元[77] - 税后净现值（8%）为23.7亿美元[77] - 预计在2025年7月完成可行性研究[25, 81] - 确定了四个高优先级的勘探目标，估计总量为1750万吨至2350万吨，镍当量品位为1.9%至2.1%[25, 62, 64]

Core Viewpoint - The strategic partnership between Danantara Indonesia, the Indonesia Investment Authority (INA), and Eramet aims to establish a sustainable and integrated electric vehicle (EV) battery raw materials ecosystem in Indonesia, enhancing the country's position in the global nickel supply chain [3][4][5]. Group 1: Partnership Details - A Memorandum of Understanding (MoU) was signed to explore the establishment of a strategic investment platform in the nickel sector, covering both upstream and downstream operations [1][3]. - The signing ceremony was attended by Indonesian President Prabowo Subianto and French President Emmanuel Macron, highlighting the significance of the partnership [2]. Group 2: Objectives and Goals - The partnership aims to conduct a preliminary assessment to identify suitable projects that maximize the potential of Indonesia's national EV ecosystem and prepare a roadmap for future collaboration [3]. - The collaboration emphasizes adherence to strict international standards in asset management, prioritizing efficiency and economic value [3][4]. Group 3: Contributions and Expertise - Danantara Indonesia and INA will manage long-term financing to support investment development, while Eramet will provide technical expertise and experience in large-scale mining projects [4][5]. - Eramet has been active in Indonesia since 2006, contributing to the development of the country's largest nickel deposit and supporting sustainable development initiatives [8][9]. Group 4: Strategic Importance - The partnership is seen as a crucial step in strengthening Indonesia's critical minerals supply chain, particularly in the nickel sector, aligning with INA's investment focus [6][7]. - The collaboration aims to attract high-quality investments into Indonesia's strategic sectors, combining technical excellence with long-term financing structures [7].

Core Viewpoint - Class 1 Nickel and Technologies Ltd. has filed an independent NI 43-101 Technical Report for its Alexo-Dundonald Nickel Project, which includes an updated Mineral Resource Estimate for the Dundonald North Deposit, enhancing the company's resource base and positioning in the nickel market [1][2][3]. Group 1: Technical Report and Resource Estimate - The Technical Report, effective from March 27, 2025, was prepared by Qualified Persons from Aticus Geoscience Consulting Ltd. and Caracle Creek Chile SpA [2]. - The updated Mineral Resource Estimate for the Dundonald North Deposit indicates an inferred resource of 2,500,000 tonnes with a nickel grade of 0.75% and a nickel equivalent grade of 0.80% [5][6]. - The report replaces a previous NI 43-101 technical report from October 2024, reflecting advancements in resource estimation [3][6]. Group 2: Company Strategy and Future Plans - The company aims to expand known mineralization and resources at its four existing nickel sulphide deposits within the Alexo-Dundonald Nickel Sulphide Project [23]. - An exploration program is planned to investigate underexplored areas of the project, guided by recent airborne geophysics and historical drilling [24]. - The company is pursuing a dual strategy to develop both high-grade nickel sulphide resources and large tonnage, low-grade komatiite-hosted deposits [25][26]. Group 3: Project Overview - The Alexo-Dundonald Nickel Sulphide Project covers approximately 3,093 hectares and includes four nickel deposits, with historical production from the Alexo North and South deposits [29]. - The project is located in a folded komatiite-ultramafic rock sequence that has not been systematically explored, indicating potential for resource expansion [29]. - The company plans to commence a Preliminary Economic Assessment (PEA) study to evaluate the best path forward for the project [33].

Core Viewpoint - First Atlantic Nickel Corp. has commenced Phase 2 drilling at the RPM Zone of its Atlantic Nickel Project in Newfoundland, aiming to expand the mineralized area and explore new nickel targets, leveraging the unique properties of awaruite for environmentally sustainable processing [1][4][19]. Phase 2 Drilling Program - The Phase 2 drilling program is designed to extend the mineralized area beyond the initial 400 meters by 500 meters defined in Phase 1, targeting high-priority areas to the north, east, and west [5][6]. - The program aims to outline a large-scale nickel system with the potential to host over one billion tonnes of mineralized material [5][6]. - New road access and a more powerful drill rig will enhance drilling speed, depth capacity, and cost efficiency [5][6]. Awaruite Characteristics - Awaruite is a naturally occurring nickel-iron alloy composed of approximately 75% nickel, offering significant processing advantages due to its native metallic state, which eliminates the need for energy-intensive smelting or roasting [2][14]. - The processing of awaruite results in a lower carbon footprint and is suitable for simple domestic processing, aligning with North America's critical minerals supply chain needs [2][14][16]. Phase 1 Results - Phase 1 drilling confirmed a significant awaruite-hosted nickel discovery, with consistent grades averaging approximately 0.24% nickel and strong metallurgical results [7][8]. - Davis Tube Recovery (DTR) metallurgical testing produced a magnetic concentrate with an average grade of approximately 1.35% nickel [5][7]. Strategic Acquisitions - The company has entered into a definitive agreement to acquire eight mineral licenses totaling approximately 3,350 hectares around the Atlantic Nickel Project, which returned elevated magnetically recoverable nickel values [10]. - The acquisition will be financed through the issuance of 1,000,000 common shares at a deemed price of $0.205 per share [10]. Market Context - Awaruite's processing method aligns with the U.S. Inflation Reduction Act's requirements for electric vehicles, which mandate that eligible clean vehicles must not contain critical minerals processed by foreign entities of concern [14][19]. - The development of awaruite resources is crucial for reducing dependence on foreign nickel processing, particularly from China, which dominates the global nickel market [16][19].

Report Summary 1. Report Date and Title - The report is dated April 15, 2025, titled "Nickel: Short - term Fundamental Support, Nickel Prices Firm; Stainless Steel: Cost May Provide Bottom Support, Negative Feedback Expectations Exert Pressure" [1][2] 2. Core Views - Nickel prices are expected to run firmly due to short - term fundamental support, while stainless steel prices may be supported by cost at the bottom but face pressure from negative feedback expectations [1][2] 3. Key Data Summary 3.1 Futures Data - **Nickel Futures**: The closing price of the Shanghai Nickel main contract is 123,090, with a change of 1,790 compared to T - 1. The trading volume is 173,645, a change of 3,314 from T - 1 [2] - **Stainless Steel Futures**: The closing price of the stainless steel main contract is 12,805, up 105 from T - 1. The trading volume is 132,926, an increase of 56,160 compared to T - 1 [2] 3.2 Industrial Chain Data - **Nickel Products**: The price of 1 imported nickel is 123,150, up 2,550 from T - 1. The price of 8 - 12% high - nickel pig iron (ex - factory price) is 995, down 3 from T - 1 [2] - **Stainless Steel Products**: The price of 304/2B coil - rough edge (Wuxi) is 13,200, up 50 from T - 1. The price of 304/No.1 coil (Wuxi) is 12,775, unchanged from T - 1 [2] 4. Macro and Industry News - The GNI nickel - iron project in Indonesia has gradually resumed production after cutbacks in January - February. Its capacity utilization increased from 30% to 50% in March, with an expected monthly output increase of about 0.2 million nickel metal tons in March. It plans to reach normal production by the end of April [2] - The Indonesian government proposed to adjust non - tax state revenues, raising the resource tax rates of nickel ore, nickel - iron, nickel pig iron, and nickel matte to floating ranges of 14% - 19%, 5% - 7%, 5% - 7%, and 4.5% - 6.5% respectively [3] - The governor of Ontario, Canada, may stop exporting nickel to the US in response to US tariff threats [4][5] - The Ramu nickel - cobalt project's Basamuk HPAL plant has resumed full - load production. Its MHP guidance output in 2025 is about 32,000 nickel metal tons [5] - The Indonesian Ministry of Energy and Mineral Resources signaled that new rules related to increasing mineral and coal royalties will be issued before Eid al - Fitr or March 31, 2025 [5] - China will impose a 34% tariff on all imported goods from the US starting from April 10, 2025, at 12:01 [5] 5. Trend Intensity - The trend intensity of nickel is +1, and that of stainless steel is 0. The trend intensity ranges from - 2 to 2, where - 2 means most bearish and 2 means most bullish [5]

PALM BEACH, Fla., March 19, 2025 (GLOBE NEWSWIRE) -- FN Media Group News Commentary - According to a report from Grand View Research, the global nickel mining market size was estimated at USD 50.40 billion in 2022 and is estimated to grow at a compound annual growth rate (CAGR) of 6.6% from 2023 to 2030. Growth in end-use industries such as construction, consumer durables, and machinery & equipment are propelling the growth of the stainless steel industry. Nickel is one of the key raw materials of stainless ...