Royal Nickel Corp. (RNX-T) stock jumped 11% on Thursday after announcing it has received the green light for its Dumont nickel project in the Abitibi region of northwestern Quebec.

The junior mining and exploration sector always swings in the breeze, but the latest slump is unprecedented.

According to International Nickel Study Group (INSG), surplus in global nickel market dropped to 100 tons in March compared to a surplus of 10,600 tons during the same month a year ago.

According to statistics released by the United States Department of Commerce, the country exports of nickel scrap totaled 2,337 tons in March, soaring by 24.9% compared to the same period of last year.

According to statistics released by the United States Department of Commerce, the country exports of nickel scrap totaled 1,871 tons in February, dropping by 22.9% compared to the same period of last year.

According to the report of Jien Nickel, the company would loss RMB350-500million in 2014. In 2013, Jien Nickel gained RMB98.54million and the adjusted net profit was RMB80.51million.

It is reported that Vale is likely to become the global biggest nickel supplier in the next two to three quarters.

Glencore has moved to tap the Australian debt markets for the first time as speculation mounts the Swiss trading and mining giant will emerge as the buyer of BHP Billiton's unwanted Nickel West division.