12 July 2024
12 July 2024
In 2024, demand for diamonds has waned in two of the key consumer markets—China and the US.
The move was in response to oversupply in the global nickel market and a sharp decline in forward consensus nickel prices.
The sale is in line with NAE's strategy to concentrate on its gold and lithium projects.
The company noted that its modular direct lithium extraction (DLE) system is currently producing and supplying lithium chloride.
The approvals include a clearance decision from the Comisión Federal de Competencia Económica (COFECE) and a final order from the Ontario Superior Court of Justice.
This permit is the final governmental authorisation required for the project to move forward.
The mine will become the second to be developed by the company in less than two years.
The move aims to strengthen the nation's sovereign capabilities and support the electric vehicle (EV) and battery industries.
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