Hungry for Copper and Nickel – old mines could re-open in Australia
More mining jobs on the way – Copper Nickel Mines Mining Jobs
The rise in nickel and copper prices to their highest levels in many years has become the latest boon for Australia’s resources sector. This recent activity is nudging miners profit margins and also having the effect of getting other companies to think about re-opening those mines they put under maintenance and revisiting those once favoured exploration projects.
Nickel prices this week rose to their highest level in two years, with copper climbing to prices not seen since 2014.
Those who are working in the mining sector, or are looking for a job at the moment, could well benefit from this type of knowledge. For this resurgence of activity in copper and nickel signals a new wave of above and underground mining activity.
Take BHP’s Olympic Dam project for instance, recent news and activity suggests a gradual increase in production which means more jobs for the locals of South Australia.
Read about Olympic Dam project here on iMINCO.
The price of both metals has been boosted by a mix of a weaker US dollar and healthy global demand. Other factors are the longer-term expectations of kift in demand from the rapidly expanding electric vehicle market.
The copper price surge is further good news for mining giants BHP and Rio Tinto, because theses mining giants have copper mining as a major earner for their shareholders, as well as other Australian copper producers OZ Minerals and Sandfire Resources.
Diversified miners South32 (a BHP spin-off company) and Independence Group, which is ramping up its new Nova nickel mine in Western Australia, also both have nickel mines.
As a side note, you may be aware that lithium and graphite mining was also on the upswing because of the rise of the electric vehicle, but now we see two new players – nickel and copper.
Another interesting fact is that a shortage of cobalt supply is making battery makers to look for alternatives, with nickel increasingly being eyed as a potential replacement.
Philippines has shut down an estimated 24 per cent of its nickel production
More immediately, disruptions in nickel supply have also helped turn around the metal’s fortunes. First Quantum Resources recently announced the closure of its Ravensthorpe nickel mine in WA’s southwest, while The Philippines has shut down an estimated 24 per cent of its nickel production capacity in an environmental crackdown.
Mine site disruptions have also contributed to the demand hike, with indicates that metal markets may be tight for several months more.
Junior miners one to watch for new mining jobs
Meanwhile, because of the rise in prices, exploration activity by junior copper and nickel miners in Australia is kicking off.
Rox Resources, which owns both nickel and copper exploration projects, is looking to restart a study over its Fisher East nickel project in WA that it had previously shelved due to low nickel prices.
Rox managing director Ian Mulholland said it had been hard to stay positive with a collapsing nickel price over the last few years,but said his company’s previous work would help Rox move quickly to make some coin whilst the price is on the rise. When nickel prices were low, Rox grabbed a bargain by buying up the undeveloped Collurabbie nickel project for $150,000.
Rox had a big win with this mine (Collurrabbie) because back in 2004, it was a hive of exploration activity, rocketing the previous owner Falcon Resources from a $5 million to a $140m market capitalisation.
Copper Nickel Mines Mining Jobs Boost
Once again, re-affirming that mining is a volatile business, that can ride the perpetual wave of worldwide demand. Factor in the latest developments in technology that use these base metals in their design (phones, PC’s etc), it’s no wonder employment in the mines can be fickle and unpredictable.
Hence the need for all miners working in the sector to continually upskill, learn new technology and remain focused on mining safety and creating a good working environment. The old mindset of employees expecting a job because it is a mine site are gone – mining companies look for employees who can commit to long-term work and who bring with them a positive attitude and a willingness to muti-task where possible.
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