Harita Nickel is aiming to significantly boost its ferronickel production to 120,000 tons in 2024. The company’s CEO, Roy Arman Arfandy, disclosed that this target would be achieved with the support of its two Rotary Kiln Electric Furnace (RKEF) smelters. The Megah Surya Pertiwi (MSP) smelter is expected to produce 25,000 tons of ferronickel, while...
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Australia’s nickel industry is under significant threat, with potential job losses of up to 10,000 and investments worth $1.8 billion at risk if the sector collapses, according to a new report commissioned by the Chamber of Minerals and Energy WA and authored by Madala. Released today, the report highlights the dire situation facing the nickel...
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Sumitomo, a Japanese trading firm, has revised its nickel production forecast at the Ambatovy project in Madagascar for the fiscal year April 2023 to March 2024. Initially projected to produce around 40,000 tonnes of nickel, the company has now adjusted its output expectations to just over 30,000 tonnes, citing operational issues that arose towards the...
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Glencore has announced a decrease in its production of copper, nickel, and cobalt for 2023, with expectations set for continued declines into the current year. These materials, crucial for electric vehicle manufacturing, have seen a downtrend in output amid broader industry challenges. Analysts from Jefferies point out that production hurdles are becoming increasingly common across...
READ MOREThe Indonesian nickel industry’s rapid expansion is significantly impacting the global nickel market, leading to a substantial drop in prices and challenging producers worldwide. The nickel price on the London Metal Exchange (LME) has plummeted by nearly half over the last 13 months. This downturn has prompted Australian mining companies like Wyloo Metals and BHP...
READ MOREBrazilian mining giant Vale announced its 2023 production results, showing a contrasting performance in nickel and copper outputs. Nickel production fell by 7.9% to 164,900 tons, primarily due to a significant output decline at Canada’s Boise Bay mine and a slight reduction at the Sudbury mine. Despite this, Vale expects nickel production to stabilize in...
READ MOREIn a significant turn of events in the global nickel market, Australian battery minerals specialist IGO has announced the closure of its Cosmos nickel mine in Western Australia’s Goldfields region, a decision affecting approximately 400 jobs. This move highlights the growing impact of Indonesia’s booming nickel industry on Australian mining operations. IGO Chief Executive Ivan...
READ MOREIndonesia’s aggressive expansion in the nickel industry is reshaping the global market and challenging mining operations worldwide. With its market share skyrocketing to 55% in 2023, up from 16% in 2017, Indonesia has become the dominant force in nickel production, causing concern among Western nations and sparking a “Darwinian” battle for survival among miners. The...
READ MOREVale has exceeded market expectations by producing 70,728 tons of nickel in Indonesia for the fiscal year 2023, surpassing the anticipated 69,451 tons. This achievement highlights Vale’s operational efficiency and its ability to meet or exceed production targets in the competitive mining sector, particularly in the context of growing demand for nickel in industries like...
READ MOREIndonesia’s nickel mining industry is gearing up for a challenging year in 2024, as global oversupply persists amid a decline in demand. Despite worldwide announcements of production cuts and mine closures, the expected boost in nickel prices has yet to materialize, leaving analysts skeptical about a swift recovery. Amidst the uncertain market conditions, Bayu Aji,...
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In response to the mounting challenges faced by nickel and lithium producers in Australia, the federal and Western Australia (WA) state governments are contemplating the introduction of financial incentives, including production tax credits and royalty reliefs. This initiative aims to alleviate the pressures on these key sectors of the battery metals market, which have seen...
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The ongoing slump in nickel prices is exerting unprecedented pressure on global nickel producers, heightening the risk of significant mine closures. This trend is poised to further cement Indonesia’s stronghold on the worldwide nickel supply, given its resilience against production cutbacks. Nickel, a critical element for stainless steel and electric vehicle batteries, has seen its...
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In response to the recent announcement by Wyloo Metals to halt mining operations due to declining nickel prices, BHP Billiton has disclosed plans to conduct comprehensive maintenance and overhauls at its Kambalda nickel processing facilities in Western Australia. This strategic move aims to mitigate the potential impact of ore supply disruptions on the plant’s operations....
READ MOREAccording to the latest CyclOpe index, global prices for industrial commodities are expected to continue their downward trend in 2024, with notable exceptions like uranium, copper, and aluminum. In 2023, the index, which aggregates price changes for the world’s main listed commodities, recorded a 14 percentage point decrease from the previous year. Key Trends in...
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The global nickel market is currently facing a significant downturn, with prices dropping to their lowest level since 2021, which may lead to widespread closures of nickel mines worldwide. However, this decline could paradoxically strengthen Indonesia’s position in the global nickel supply chain. Decline in Nickel Prices Nickel prices have recently plummeted to US$16,000 per...
READ MOREA collaborative effort by Russian and international material scientists has led to the creation of a groundbreaking alloy composed of nickel, manganese, tin, and copper. This alloy exhibits the unique ability to actively absorb heat under magnetic fields and cool the surrounding area to temperatures nearing zero degrees Celsius. The implications of this discovery are...
READ MOREThe global nickel market is currently facing a significant downturn, with prices remaining low for an extended period. This persistent decline has placed considerable pressure on nickel producers worldwide, raising concerns about the potential for widespread mine closures. Such a scenario could inadvertently strengthen Indonesia’s position as a dominant player in the global nickel supply....
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Wyloo Metals, a private nickel producer under the ownership of Australian tycoon Andrew Forrest, has announced the impending shutdown of its mines in Western Australia. This decision, influenced by a significant drop in nickel prices, marks a pivotal moment for the company, especially considering its recent acquisition of these mines only half a year ago....
READ MOREIndonesia’s ambitious plan to dominate the global nickel market and influence the electric vehicle (EV) industry has raised significant environmental concerns and faces potential market shifts. Indonesia’s strategy, aimed at leveraging its vast nickel resources, involves a ban on nickel exports and encouraging multinational companies to process nickel domestically. This move, while potentially increasing Indonesia’s...
READ MOREGlobal mining giant BHP Group is reevaluating its nickel business plans due to the drastic fall in market prices, joining other miners in adjusting strategies to navigate the industry’s downturn. – Price Decline: Nickel prices have halved since early 2023, as supply growth, particularly from Indonesia, has outpaced demand, including from electric vehicle (EV) manufacturers....
READ MOREAustralian nickel producers are experiencing significant challenges due to increased supply from Indonesia and decreasing demand, leading to nickel prices hovering near three-year lows. This situation is exerting pressure on domestic miners, compelling them to reconsider their operational strategies. BHP Group, a leading global miner, is at a crossroads with its Australian nickel operations. The...
READ MOREIn 2023, Indonesia reported production of 535,200 metric tons of nickel in ferronickel and 71,400 tons of nickel matte, falling short of its set targets. This production level marks a slight increase in ferronickel output by 3.6% from the previous year but falls below the anticipated target of 628,600 tons. Conversely, the nickel matte output...
READ MORENickel Market Faces Unprecedented Oversupply and Price Declines in 2024 The nickel industry is bracing for a challenging 2024, with experts predicting a substantial oversupply in the market. Budi Frensidy, a capital market observer from the University of Indonesia, forecasts the largest nickel surplus in history, leading to a continued decline in prices. This comes...
READ MOREThe Australian nickel industry is facing significant challenges, with falling prices leading to job losses and impacting companies like Panoramic Resources. The industry’s struggles have been exacerbated by the booming nickel sector in Indonesia and a slower-than-anticipated uptake of electric vehicles. Mining groups, including the Chamber of Minerals and Energy WA, are urging the Federal...
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