Shares of Australian miner BHP jump 3% after news about a nickel deal with Tesla
'Demand for nickel in batteries is estimated to grow by over 500 per cent over the next decade, in large part to support the world's rising demand for electric vehicles,' BHP said.
However, Peter O'Connor, metals and mining analyst at Shaw and Partners, was less bullish on the overall nickel sector, in terms of space for new players to increase their market share.He said the nickel market is still very small, with long-term sales turnover of around $40 billion. Moreover, besides BHP, there are other key large players already crowding the market, such as Brazil's Vale and Russia's Norilsk Nickel, he told CNBC on Thursday.
BHP is listed in Australia, New York and London.Senior resource analyst Gavin Wendt from MineLife told CNBC earlier this week he has a 12-month price target of 60 Australian dollars ($44) on BHP, which is currently at 51.40 Australian dollars. His comments came before the nickel supply deal with Tesla was announced.
"BHP's share price performance has been extremely strong and it is outperforming its fellow resource heavyweight,," he said, referring to another major Australian miner."In fact, BHP has over the past 12 months outpaced theby around 14% – and it's trading not far off its all-time record high of $51.82 achieved in May, with its price up by around 36%," he told CNBC on email. headtopics.comRead more: CNBC »
U.S. CDC chief says there will be no federal mandate on COVID-19 vaccine
U.S. Centers for Disease Control and Prevention Director Dr. Rochelle Walensky said on Friday there will be no nationwide mandate for Americans to get a COVID-19 vaccine, clarifying comments she made earlier during a televised interview.
Elon Musk said in TheBword 'I hold a lot of Doge, BTC; Tesla-SpaceX, Starlink are all big investments, if it drops we lose money, We don't sell and we Pump...'. DogeCoin will increase by $5 in 2021. good luck
Gabby Logan shares wedding day throwbacks as she celebrates 20th anniversaryTV presenter Gabby Logan, 48, married former Scotland rugby union player Kenny Logan on July 19, 2001
Derry Girls star shares major update on season three - and fans will be thrilledDerry Girls star Tara Lynne O'Neill has dropped a huge update on the future of the hit Channel 4 comedy, revealing both when filming for series three will begin and when it will air
This Morning’s Eamonn Holmes shares very first photo of newborn granddaughter EmeliaEamonn Holmes is a proud new grandfather as he shares sweet snapshot of his first grandchild, Emelia
Robbie Williams' wife Ayda Field shares sweetest poolside photo of daughtersRobbie Williams and Ayda Field are doting parents to four children
Deacon Phillippe Shares Rare Beach Day Photos with GF and SiblingsReese and Ryan’s son shares some photos from a family vacation (via toofab) TooFab Way! Cool! Niceee! Aaaay!☺ 💗
Demi Lovato Shares Photo After Filming Their First Ever Sex SceneDemi looks and feels amazing, and it shows!