- Playfair Mining (PLY) has begun a review of the known nickel occurrences and potential on its 100 per cent-owned RKV project in Norway
- The initial emphasis of the review is on the Vakkerlien nickel-copper deposit and the Kaltberget and Olkar nickel-copper showings
- The price of nickel has doubled in the last year and is currently at a 15-year high of over US$15/lb
- This price increase has been driven by the electric vehicle revolution and recently by unfortunate geopolitical developments
- Playfair Mining is a mineral exploration company based in Canada
- Playfair Mining Ltd. (PLY) opened trading at $0.08
Playfair Mining (PLY) has begun a review of the known nickel occurrences and potential on its 100 per cent-owned RKV project in Norway.
The initial emphasis of the review is on the Vakkerlien nickel-copper deposit and the Kaltberget and Olkar nickel-copper showings.
The price of nickel has doubled in the last year and is currently at a 15-year high of over US$15/lb. This price increase has been driven by the electric vehicle revolution and recently by unfortunate geopolitical developments.
There has been no drilling at Vakkerlien for 30 years and at Kaltberget and Olkar for 45 years. Exploration techniques have advanced considerably since this time.
While batteries are not the dominant usage for nickel, electric vehicles’ share of nickel demand has been growing quickly and is expected to continue on a sharply upward trend.
Current global nickel production is roughly equally divided between Class 1 high purity nickel (derived from sulphides) and Class 2 low purity nickel (derived from laterites).
Batteries require Class 1 nickel because the quality and performance of batteries depend on the quality of nickel used to make them.
Russian production from Norilsk Nickel was 14 per cent of global Class 1 nickel production in 2019 (the last non-Covid-affected year). With Russian production now probably embargoed for an extended period, the Class 1 nickel market will likely be very tight in the near term.
Playfair is now reviewing all available data on the Vakkerlien deposit area, the Kaltberget and Olkar occurrences and other prospective areas indicated by high MMI nickel values and high magnetic anomalies and favourable geology on the RKV project.
Playfair Mining is a mineral exploration company based in Canada.
Playfair Mining Ltd. remained unchanged at $0.08.
