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...It has done little to date to close the multi-decade lead in securing mineral supplies held by China, whose companies have, for example, invested heavily in Indonesia, the world’s largest nickel producer...
...Companies wishing to explore for minerals in international waters must apply to the ISA with the backing of a member state. Not ratifying Unclos means the US cannot sponsor licences....
...Potanin said the sanctions have cut Norilsk’s revenues by at least 15 per cent since 2022 because of a gamut of difficulties around international payments, delivery refusals and pricing discounts, as well...
...However, the company warned that it “does not believe that any of these options are likely to recover any value for the company’s shareholders”. The shares fell 84 per cent in early trading in London....
...However, the company warned that it “does not believe that any of these options are likely to recover any value for the company’s shareholders”....
...Australia’s nickel industry is confronting a crisis with a number of companies suspending operations owing to a collapse in the nickel price driven by a glut of supply from Indonesia....
...Nickel, a key ingredient in electric vehicle batteries and steelmaking, advanced 1.5 per cent....
...Chinese companies have poured in billions of dollars and control the country’s biggest nickel operations. “We have got to differentiate between dirty nickel and green nickel....
...The responsibility for us as the biggest nickel producer is to supply enough nickel so that the EV [electric vehicle] transition can progress smoothly.”...
...“The international nickel price is forecast to stay relatively low through 2024, and likely for several years to come until the surplus of nickel in the market is corrected,” she added....
...BHP, the world’s largest nickel producer, booked a $3.5bn writedown on its Nickel West operation in Australia last week....
...Chinese companies have poured in billions of dollars and control the country’s biggest nickel operations....
...The company said it was assessing the book value of its nickel operations as a result....
...INA is in talks with foreign companies for joint investments in nickel mining, smelting and battery manufacturing, Porwanto added....
...Jeff Yass’s Susquehanna International Group first invested $80,000 in ByteDance, the Chinese owner of TikTok, on the back of an idea sketched on a napkin in a Beijing coffee shop more than a decade ago....
...The US International Development Finance Corporation (DFC) has invested $105mn into TechMet, a $1bn critical minerals fund, which has pledged $50mn of equity for Rainbow Rare Earths, the company behind the...
...Australia’s nickel industry is confronting a crisis with a number of companies suspending operations due to a collapse in the metal’s price driven by a supply glut from Indonesia....
...The company also cut the dividend to $0.96 per share for a total of $1.2bn for 2023 — a 52 per cent fall on the year....
...Chinese companies made huge investments in Indonesian nickel to secure low-cost inputs for their stainless steel and to meet the expected surge in demand for electric car batteries....
...This disrupted plans by foreign companies to acquire the companies, and she is now seen as a significant force in the development of lithium, a key material for electric vehicles, in Australia....
...Paris is trying to persuade local politicians to sign a “nickel pact” that would include relaxing a series of quotas and local restrictions around exporting raw nickel ore and transforming less of it into...
...The major shift in the market and tumbling nickel prices have already affected mining companies such as BHP, IGO and First Quantum, which have cut production and shut down mines in Western Australia....
...that it thought contained valuable nickel were, in fact, full of almost worthless materials....
...As prices fall, the companies can only awkwardly point out that these metals now matter less and less to the group’s profits....
...“REPT’s goal is to become a highly international enterprise, and it is currently deploying overseas infrastructure in countries like Indonesia, Europe, Chile and elsewhere,” he added....
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