Actually I am a little uneasy about their nickel project because of the dire outlook for the nickel market: Over the next three years several large new projects will go into production such as Barro Alto, Goro, Ambatovy, Vermelho. Ni is certainly more abundant than copper or zinc. At the same time the world is facing peak oil and the unwinding of the greatest asset bubble ever.
Thus I consider billion-$-investments into nickel projects somewhere in the outback as a safe way to destroy the company.
So, either they should look for a free ride with Jinchuan taking over the majority of the project in exchange or postpone it and concentrate on phosphate/tin.
MLX Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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