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The company is exploring for nickel deposits on its Langmuir property near Timmins, Ontario; for nickel-gold-copper on its Cleaver and Douglas properties; and for molybdenum and rare earth elements at recently acquired Desrosiers property.

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Message: Union sees prolonged shutdown in Vale Inco strike

Don't you just love the contradictions when people are asked whether these strikes will impact Nickel prices. The last article said not immediately, This one says something a little different.

http://www.bloomberg.com/apps/news?pid=20601082&sid=aq7aMgwUD6n8

Nickel Price Forecast Raised by CPM for Final Quarter on Strike

By Claudia Carpenter

July 27 (Bloomberg) -- "Nickel will average 6 percent higher in the fourth quarter than previously forecast after a strike at Vale SA and increased imports by China, according to CPM Group.

Nickel for immediate delivery will average $15,015 a metric ton in the final three months this year, up from a previous forecast of $14,155 a ton, CPM analyst Catherine Virga said by phone from New York today.

Vale workers in Sudbury, Ontario, began picketing the company’s sites on July 13 after voting against a proposed contract. The company had through such an agreement sought concessions on pensions, bonuses and seniority benefits, according to Wayne Fraser, a director at the United Steelworkers union. China’s imports of unwrought nickel and alloys climbed for a third month in June, customs data showed.

CPM also raised its copper, lead, aluminum and zinc forecasts and lowered its estimate for tin, Virga said. "

To contact the reporter on this story: Claudia Carpenter in London at ccarpenter2@bloomberg.net

Last Updated: July 27, 2009 12:28 EDT

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