Report
Roger Bade
EUR 57.00 For Business Accounts Only

Vale (VALE5-BZ)/Glencore (GLEN) - Could Glencore be about to buy Vale's New Caledonian nickel operations?

www.mining.com reports that the Brazilian major has put up for sale its loss making New Caledonian nickel assets. Although they apparently breakeven at around US$5.00 per pound, it seems odd to be selling any nickel assets at the moment. Even though the price of nickel has only recovered above $5.00/lb. in the last two months and Vale say they are able to cut costs at the operation by a further twenty cents/lb. or so, the prospects for nickel have been recently bolstered by the potential from electric vehicles. At the same time by-product cobalt has also been in strong demand.
Underlying
Arkle Resources

Connemara Mining Company is engaged in exploration for and development of mineral resources in Ireland. Co. is focused on zinc and gold exploration with 35 licences spread across Ireland.

Provider
Whitman Howard
Whitman Howard

Whitman Howard is an independent institutional stockbroking and investment banking business focused on servicing the needs of our corporate clients and institutional investor base.

The company began trading in 2011 with a team of highly experienced market professionals and the goal of building a leading capital markets business in an entrepreneurial environment.

Analysts
Roger Bade

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