Tycoon Motsepe’s ARM Eyes Nickel Mine Restart to Supply Europe

African Rainbow Minerals Ltd. signed a conditional deal to sell nickel to a smelter owned by Boliden AB, offering a pathway for reopening a mothballed mine in South Africa.

The transaction would see nickel concentrate from the Nkomati mine sent to the Harjavalta smelter in Finland “over a multi-year period,” ARM said on Tuesday. The Johannesburg-listed firm’s board must still approve the restart of mining at the asset, while Boliden needs to conduct due diligence, according to the statement.