Economy March 25, 2022 | 9:23 am

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Ukraine-Russia clash boosts Dominican nickel

Santo Domingo.- The conflict between Ukraine and Russia has impacted the prices of raw materials such as corn, wheat and oil, among others, in international markets.

But in the midst of this panorama, it has favored the price of nickel, which translates into profits for producing countries such as the Dominican Republic.

More than a year ago, the price of nickel was around four dollars a pound and before the war it was as high as 11.50 dollars.

According to official data, Russia supplies about 10% of nickel worldwide. The metal is used to make nickel-cadmium batteries for electric vehicles, among others. Yesterday, the price of nickel closed at 37,234 dollars per ton.

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Paul Tierney
March 25, 2022 11:38 am

Just to be steady with the article, the price of $37,234 dollars per ton converts to $18.62 per pound.

Felix Arroyo
March 25, 2022 3:41 pm
Reply to  Paul Tierney

Yes but what is the pound of recoverable iron-nickel per ton of geology and the gallons of contaminated water created?

Felix Arroyo
March 25, 2022 3:40 pm

Do not increase the digging o mining of DR’s geology to have more revenue. An increase in production must be analyzed first for impacts to the environment. So limit the greediness and respect the geology.

Paul Tierney
March 26, 2022 8:47 am
Reply to  Felix Arroyo

Don’t think there will be an increase of mining other than what has been planned beforehand. What is happening is Falcondo is receiving more revenue per ton produced and the government will be getting more tax revenue.