CORRECTION: After the natives went wild at the Goro Nickel mine in New Caledonia, VALE sold it in 2021 to PRONY RESOURCES. Ergo, VALE is not the nickel play I thought it was.
Fun fact: VALE owns the nickel mines in New Caledonia — who is the chief supplier of nickel to Tesla for their batteries. On the whole, the EV sector will be in tumult with Russian supply off-line.
New Caledonia has roughly 25% of the world’s nickel supply and with Russian sanctions locking them out from every place but China — it stands to reason the price for electric cars are going to skyrocket soon — given the recent squeeze in Nickel.
EV batteries require lithium, graphite, cobalt, lithium, manganese and nickel.
Any company possessing those materials will be bid up in the coming days, weeks, and months to come.
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Melt value of a nickel is almost double the $0.05 face value. Certain years only but plenty are still in circulation.
Not for long.
https://www.amazon.com/Metal-Melting/s?k=Metal+Melting
Oooops, nickel supply issues, another strategic oversight.
ditto
Fr armstrong
“On the issue of ongoing war between Russia and Ukraine, Chinese foreign minister Wang Yi refrained from taking a direct stand on either side but said China’s friendship with Russia is “rock solid” and the prospects for co-operation are very broad. He also mentioned that the co-operation between the two countries brings benefits and well-being to the two peoples.”
“He [Putin] just came out and shot the dollar in the head. In my mind, it’s almost a certainty now that the dollar reserve currency is going to collapse and we’re going to have hyperinflation.” –
@LawrenceLepard
on @TFTC21
https://twitter.com/MartyBent/status/1500971569644019717?s=20&t=5jxxqDz8Ra924VG5szmcxw