Rising Nickel prices and projections that the global market’s supply won’t meet the demand during the next few years provide Glencore Xstrata (OTC:GLCNF) its best opportunity to make a decision about re-opening mining at Loma Miranda in the central Dominican Republic, said David Soares, CEO of Glencore’s Dominican operation, Falcondo, according to Dominican Today.
Loma Miranda’s nickel mining operation was closed in 2013 but Soares said Falcondo believes there is ample supply of the alloying metal in stainless steel still in the ground there.