Nickel Expenditures Likely To Decline

Mining Weekly reported nickel exploration expenditure was likely to decline next year because of lower commodity prices, Western Australian Mines and Petroleum Minister Norman Moore said on Thursday.

As quoted in the market news:

Commodity broker Natixis said in its quarterly metals review that high stocks of ore and finished metal would constrain nickel prices in 2013, forecasting an average price of $18 750/t, up slightly from 2012’s average price of $17 840/t, but down from $22 830/t achieved in 2011.

Speaking at the Paydirt Nickel conference, in Perth, Moore said nickel exploration had dropped by 1.6% in 2011/12, to A$256.9-million.

Click here to read the full Mining Weekly report.