The Western Australia Nickel assets owned by BHP are facing potential shutdowns and may be put on care and maintenance due to the current turmoil in the nickel industry. This development is part of a broader crisis in the Australian nickel sector, attributed to the volatility of nickel as a commodity, a supply glut, and an influx of Indonesian nickel supply coupled with falling demand for electric vehicles (EVs). The price of nickel has plummeted by 43% over the past year, leading to significant job risks and reduced investment by miners. In response to these challenges, Australia has designated nickel as a critical mineral, aiming to protect its producers from further operational shutdowns.
The energy transition requires vast quantities of metals. But mining firms are reluctant to invest. Why are the world’s miners so stingy? https://t.co/maJXscC016 👇
AUSTRALIA designates nickel as a critical mineral in emergency move to protect producers: https://t.co/UQM8mTTR2V
Can the world’s fastest-growing economy avoid the dreaded resource curse? https://t.co/zaLqjQufeS
#Australia adds nickel to critical mineral list after price drop shuts operations https://t.co/0ZIkpqM9bi
Australia’s nickel industry has been hit by influx of Indonesian nickel supply & falling demand for EVs Prices of mineral have collapsed 43% over past year, putting thousands of jobs at risk in Australia as miners have pulled back investment or suspended operations Cui bono? https://t.co/KEzMrGMnI7
#Australia's nickel producers face writedowns amid supply glut https://t.co/9wgbiblLyP
ANALYSIS: Mining nickel, the most volatile of commodities, has always been a tough job. But why is the Australian nickel sector at crisis point? https://t.co/JfzMfXTQfR https://t.co/kJqF2onM5B
The Western Australia Nickel assets owned by BHP are the latest casualty of the rout currently disrupting the #nickel industry, with the miner saying that it might put the operations in the unit on care and maintenance https://t.co/nZ8R513qeY