LionOre suitor forecasts nickel supply deficit

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The world's biggest nickel producer, Norilsk, which last week announced a counter bid for Canada's LionOre, forecasts a deficit in global supply for the silvery-white metal, as a number of big industry projects have been delayed. "We are confident that global demand for nickel will continue to grow strongly," Moscow-based investor relations director Dmitry Usanov told Mining Weekly Online.

"In the circumstances when a number of sizable projects in the industry are delayed, we do not see enough supply to cover the expected demand," he said in an e-mail interview.

On May 3, Norilsk announced a takeover bid for Canada's LionOre Mining, which comfortably topped a prior bid by diversified mining giant Xstrata.

Editor's Comment
Micro-procurement maze demands urgent reform

Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...

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