Nickel to become the 'new cobalt'

NICKEL is set to become the new cobalt if one of the bulls for the metal presenting at a keynote address at PDAC this week in Toronto is to be believed.

Nickel to become the 'new cobalt' Nickel to become the 'new cobalt' Nickel to become the 'new cobalt' Nickel to become the 'new cobalt' Nickel to become the 'new cobalt'

RNC Minerals president and CEO Mark Selby believes that with an additional 1.4-1.5 million tonnes looking like being required by 2025, a price of US$8.75 per pound could be reached later this year (or early in 2019), with a peak price of up to $14/lb possible.

Nickel was trading this month a levels of a little over $6/lb.

Selby pointed out that few people were awake to the potential for cobalt a little over 18 months ago, with its price subsequently moving up about four-fold and the commodity becoming the mining “investment story” of 2017.

“I believe 2018 will be that kind of investment story for nickel,” Selby said.

The basis for the bullishness about pricing is the unde...