According to Australia Panoramic Resources Limited, the company expects to restart Copernicus nickel mine after 6 years due to the rapid price rises.

The company also indicated the only prices back above current level that it can consider to restart Copernicus nickel mines.

However, the data showed that LME nickel was the best performing base metals this year, next year could rise as high as 25% due to a combination of Indonesia’s export restrictions and improving demand.

Panoramic is expected this fiscal year will produce approximately 8,000-9,000 tons of nickel ore from Savannah and Lanfranchi mine produced 11,000-12,000 tons of nickel respectively.