Western miners are banking on their superior ESG credentials to recover from the nickel crash. Indonesia accelerates mining quota approval, aiming to cover over half of the 145 million tonnes of nickel ore needed in 2024. Asia, led by Indonesia, now dominates the nickel market, attracting investors. Global miners urge LME to introduce a green premium for nickel, but LME deems the market for 'green nickel' too small for its own futures contract, disappointing miners outside Indonesia.
LME Says Market Isn’t Large Enough for Green Nickel Futures Market participants concerned contract would not be liquid Miners outside Indonesia have called for green nickel premium https://t.co/oH4qodRRGA
The London Metal Exchange says that the market for so-called “green nickel” was too small to warrant its own futures contract, a blow to miners hoping to secure a premium for their metal https://t.co/RlZbw7Sx44
Global miners call on LME to introduce a green premium for nickel https://t.co/6PZIjyW6iT
The nickel landscape has changed dramatically over the last decade. Investors have noticed. Asia now dominates the market, fueled by Indonesia. 📊 @theoregongroup https://t.co/MhqYk4VGoO
Indonesian #nickel ore supply curbs continue to raise concerns, although the country has said it is accelerating the mining quota approval. Mining quotas set at 145 million tonnes of nickel ore for 2024; will cover over half of the volume needed https://t.co/T3qRZs6cS9
Western miners hope superior ESG credentials can revive their fortunes amid devastating nickel crash https://t.co/uMy7hkaBCk