Australia's largest stock trading and investment forum Australia's #1 stock forum

DRE dreadnought resources ltd

0.00%

0.9¢

Incredibly bad idea bought to you by the Oz gov. The market...

First 4 Last

Share
Profile

Follow
McKhenry

5,487 Posts.

911

17/02/24

09:32

Post #: 72457070
Share

Originally posted by TB51: ↑

Nickel to be placed on critical minerals list, giving WA miners access to $4 billion fund - ABC News In short:Mining Giant BHP has announced it is considering mothballing its Nickel West division. In response, Federal Resources Minister Madeline King says she will put nickel on the critical minerals list.It will allow nickel miners to apply to access a $4 billion fund.
Federal Resources Minister Madeline King says she will put nickel on the critical minerals list, allowing nickel miners to apply to access a $4 billion fund.
The minister's announcement on Friday came after, which could risk thousands of workers' jobs.
Ms King said the move would have "significant ramifications" on the state's nickel industry, with plummeting prices over the past year having already led to several mine closures and hundreds of job losses.
Space to play or pause, M to mute, left and right arrows to seek, up and down arrows for volume.
LISTEN
Duration: 6 minutes 29 seconds6m

0 seconds of 0 secondsVolume 90%

Minister King confirms nickel to be added to Australia's critical minerals list
"If Nickel West went into care maintenance, which usually leads into permanent shutdowns, it would be very difficult to restart this industry, so it is a very serious moment," she told ABC Radio Perth.
Miners able to seek federal cash
Nickel's inclusion on the critical minerals list is expected to make it easier for project proponents to apply for funding from the federal government's critical minerals facility.
The loan facility, managed by the federal government's credit agency Export Finance Australia, aims to bolster and develop projects consistent with the Australian Critical Mineral's Strategy.
Last year, the facility's fund swelled from $2 billion to $4 billion.
"This will now make sure nickel can fall within that particular facility," Ms King said.
"The other thing it does is it helps with our international partners too that we move this onto the critical minerals list, so that we can attract some of their investment from their national financing bodies like Export-Import Bank."
The Association of Mining and Exploration Companies was among the lobby groups that called for nickel to be put on the critical minerals list earlier this year.
AMEC CEO Warren Pearce welcomed the move but said it was not yet clear if the support will be be enough for the struggling industry.
AMEC chief executive Warren Pearce welcomed the move to list nickel as a critical mineral. (ABC News: James Carmody)
"I haven't got a crystal ball any more than anyone else has," he told ABC radio.
"The reality is we're in a situation that puts [us at] a critical point where the entire industry is at risk.
"If we lose the concentrator and the smelter ... getting these projects back off the ground and holding on to the value-adding components will be very, very difficult."
Inclusion a 'real folly', analyst says
Resource analyst Peter Strachan said it was a "real folly" to treat nickel as a critical mineral.
"What's critical about nickel is that they're critically in danger of going broke," he said.
Mr Strachan questioned the decision to allow the "failing" industry to have access to the critical minerals facility fund.
"How many times have you seen money lent to Australian businesses who then can't repay it?" he said.
"I think the government could find better ways to direct that that funding. We've already seen a lot of government funding being directed at, you know, white elephants."
The independent Perth-based analyst criticised big miners for pushing the industry to unsustainable levels over the past 12-18 months.
Ms King said the industry was in a very different position now than it was several months ago.
"If you make everything a priority, nothing's a priority," she said.
"So that's what I had to balance up and when we finalised the critical minerals list, nickel wasn't in this position.
"What I did make sure I could do, though, in developing this policy, was make sure I could very quickly move something from the strategic materials to the critical minerals list."
Crisis talks held
Last month Ms King held crisis talks with her WA counterpart David Michael, nickel producers, mining peak bodies and unions in Perth.
At the time, both Mr Micheal and Ms King said all proposals — from royalty relief to sweeping royalty reforms — were on the table to support the industry.
Neither could put a timeline on the plan of action but promised to fast-track it.
There were calls earlier this year for nickel to be placed on the list.(AAP: Marion Rae)
The meeting was prompted after hundreds of job losses and mine curtailments for WA's Ravensthorpe nickel operation and Kimberley nickel operator Panoramic Resources.
WA billionaire Andrew Forrest's Wyloo Metals was one of the biggest players to take a hit.

Expand

Incredibly bad idea bought to you by the Oz gov. The market always wins, why give a handout that could go to infrastructure. Let the cycle happen, or wait for the emergence of an ethically sourced nickle market.

DRE Price at posting: 2.0¢ Sentiment: Hold Disclosure: Held
15 Upvote

0 Great analysis

Reply

Top Stories

Listen: HotCopper Wire Podcast 015 – Yeah, we're thinking the IPO market is back

AII

Almonty Industries shares EXPLODE! Rheinmetall, Renk, and Hensoldt left in the shadows!

Monday's HotCopper trends: DroneShield contract, Vection pilot order | June 30

EOS

Two defence stocks, two $60M deals – why EOS shares are going up

FCT

FirstWave inks $400K deal with Dominican Republic major telecom

First 4 Last

Add to My Watchlist

What is My Watchlist?

A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.

(20min delay)
Last 0.9¢		Change 0.000(0.00%)		Mkt cap ! $45.71M

Open	High	Low	Value	Volume
0.9¢	1.0¢	0.9¢	$219.4K	24.45M

Buyers (Bids)

No.	Vol.	Price($)
43	19002071	0.8¢

Sellers (Offers)

Price($)	Vol.	No.
0.9¢	4101510	7

View Market Depth

No.	Vol.	Price($)
43	19002071	0.008
17	8902923	0.007
7	9767333	0.006
3	360000	0.005
3	6376250	0.004

Price($)	Vol.	No.
0.009	3837921	6
0.010	5376681	13
0.011	3099660	9
0.012	4874345	9
0.013	4082422	14

Last trade - 16.11pm 30/06/2025 (20 minute delay)

DRE (ASX) Chart

Incredibly bad idea bought to you by the Oz gov. The market...

Listen: HotCopper Wire Podcast 015 – Yeah, we're thinking the IPO market is back

Almonty Industries shares EXPLODE! Rheinmetall, Renk, and Hensoldt left in the shadows!

Monday's HotCopper trends: DroneShield contract, Vection pilot order | June 30

Two defence stocks, two $60M deals – why EOS shares are going up

FirstWave inks $400K deal with Dominican Republic major telecom

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News

Incredibly bad idea bought to you by the Oz gov. The market...

Top Stories

Listen: HotCopper Wire Podcast 015 – Yeah, we're thinking the IPO market is back

Almonty Industries shares EXPLODE! Rheinmetall, Renk, and Hensoldt left in the shadows!

Monday's HotCopper trends: DroneShield contract, Vection pilot order | June 30

Two defence stocks, two $60M deals – why EOS shares are going up

FirstWave inks $400K deal with Dominican Republic major telecom

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News