Tag: Western Areas nickel

  All images: Western Areas Panorama view of Western Areas Flying Fox processing plant.   BY: JESSICA CUMMINS WESTERN Areas has a lot to look forward to with development pushing ahead at its new Odysseus prospect and continued exploration opportunities across its Forrestania operation, and newly acquired Western Gawler tenements.   Nickel-focused miner, Western Areas, doubled its net profit from $4.8 million to $8.3 million in the second half of FY18 in line with improved nickel prices. With free cash flow of $19.1 million as of 30 June, Western Areas managing director and chief executive Dan Lougher said the company’s midterm outlook was to utilise cash on hand to accelerate exploration. Mr Lougher also had high hopes for its newly...

All images: Western Areas. THE nickel market is in the midst of major disruption as two distinct commodity segments appear – nickel sulphate for the fast growing EV market, and the traditional stainless steel market, dominated by lower grade ferronickel. In Australia, Western Areas is very well placed to seize the advantage as high grade nickel demand continues to grow.   BY REUBEN ADAMS   It's been more than a decade since nickel prices went into free fall from a peak of $51,600 per tonne (t). Now – despite continued price volatility and large supply inventories – market fundamentals are looking healthier than they have in years, with a burgeoning electric vehicle (EV) sector looks set to put a rocket...