Cliffs Natural Resources Hits Chromite Roadblock, Nickel Prices Drop

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Cliffs Natural Resources just got decked by the Ontario government, jeopardizing its Black Thor chromite project.

Via Mineweb: “U.S. mining company Cliffs Natural Resources has lost a key land dispute over a proposed highway, which could put its Black Thor chromite project in Ontario’s Ring of Fire in jeopardy…one of the land surface rights issues was building a proposed highway to the wilderness area without the consent of junior explorer KWG Resources, parent to Canada Chrome Corporation, which staked claims around the route with a plan to build a railway, instead.”

On Wednesday, September 11, MetalMiner’s stainless and nickel price index showed the Indian nickel cash price falling by 1.2 percent, making it the day’s biggest mover.

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On the LME, the 3-month price of nickel declined 0.5 percent to $13,820 per metric ton. The nickel spot price weakened by 0.3 percent on the LME, settling at $13,770 per metric ton.

The price of Chinese primary nickel saw a 0.6 percent decline.

Chinese stainless steel closed mixed yesterday. The price of Chinese ferro-chrome remained essentially flat. The price of Chinese ferro-moly saw little movement.

The price of Chinese 316 stainless coil was unchanged. For the fifth day in a row, the price of Chinese 304 stainless coil remained essentially flat. For the fifth consecutive day, the price of Chinese 316 stainless steel scrap held flat. The price of Chinese 304 stainless steel scrap continues hovering in place as well.

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