Aus Tin Mining Granted Exploration Tenement; Indian Nickel Improves

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Aus Tin Mining has received some good news. The company “has been granted the Marlborough exploration tenement in Queensland that is prospective for nickel, chromite, zinc, copper, chrysoprase and precious metals,” reports proactiveinvestors Australia.

“Previous exploration for nickel conducted across EPM 17768 has resulted in an extensive geochemical database from which the company, formerly known as AusNiCo, will generate an exploration program to commence in the current quarter.”

“It will initially focus on chromite and chrysoprase, targeting projects that may be bought into operation quickly and thereafter evaluate the exploration potential for larger scale nickel-zinc and precious metals opportunities.”

In metal price news for stainless steel and nickel…

On Friday, January 3, the day’s biggest mover was the cash price of primary Indian nickel, which saw a 1.6 percent increase. On the LME, the spot price of nickel fell 0.5 percent to $13,900 per metric ton. The 3-month price of nickel saw a 0.1 percent decline on the LME to $13,975 per metric ton.

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Chinese stainless steel prices were mixed for the day. The price of Chinese ferro-chrome saw essentially no change for the fifth day in a row. For the fifth day in a row, the price of Chinese ferro-moly remained essentially flat.

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The price of Chinese primary nickel fell 0.4 percent. The price of Chinese 316 stainless coil held steady. For the fifth consecutive day, the price of Chinese 304 stainless coil held flat. The price of Chinese 316 stainless steel scrap saw little movement. The price of Chinese 304 stainless steel scrap was unchanged.