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Everyone wants nickel, so why is it so hard to build a mine?

Nickel is hovering just above $8 lb, and that price is just too low to build a mine, said Nickel 28's chair Anthony Milewski who spoke to Kitco on Tuesday.
Nickel had a sharp run up at the start of the year nearly breaching $9 lb before falling back.
"No mines are being built at this price, except for maybe some nickel pig irons in Indonesia. All of the projects in Canada probably need a higher price," said Milewski, who warns that demand will sneak up on industry. Nickel is a key material for building electric vehicles, and EV purchases are ramping up quickly. “You're not going to be able to just turn on a new nickel mine. I think it's going to come in a much larger and faster and in a more dramatic way.” (show less)

Nickel is hovering just above $8 lb, and that price is just too low to build a mine, said Nickel 28's chair Anthony Milewski who spoke to Kitco on Tuesday.
Nickel had a sharp run up at the start of the year nearly breaching $9 lb before falling back.
"No mines are being built at this price, except for maybe some nickel pig irons in Indonesia. All of the projects in Canada probably need a higher price," said Milewski, who warns that demand will sneak up on ... (read more)