In the nickel of time

Mines take years to develop but mining finance can change dramatically in a matter of weeks. Norilsk’s $4.9bn bid for LionOre - trumping Xstrata’s March offer by 16% - is the latest example of an almost unexpected twist. Xstrata hasn’t said what it will do in response, but this move is unlikely to end the battle for the Canadian-listed nickel miner. It’s easy to understand why mining executive are anxious to get their hands on working mines rather than dig their own. Current production is extrem...