Nickel market won’t be balanced for another 5 years Sherritt exec

Dec 07, 2006 | 02:24 PM |

The world nickel supply won't be balanced with demand for another five years due to reported production delays at new nickel projects, according to Jowdat Waheed, president and chief executive officer of Toronto-based Sherritt International Corp.

"What I've seen in the last six months is that all of the announced significant capacity additions have been delayed significantly," Waheed told investors at Desjardins Securities' Materials Conference in Montreal.

The commissioning of Cia. Vale do Rio Doce's 60,000-tonne-per-year Goro nickel project in New Caledonia has been pushed back to the end of 2008, the Brazilian company said in late November, and the cost of the delayed project had increased by 40 percent to $3 billion from the initial projected cost of $2.15 billion (AMM, Nov. 29).....

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