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Nickel Faces Existential Moment With Half of Mines Unprofitable
Many of the world’s biggest nickel mines are facing an increasingly bleak future as they wake up to an existential threat: a near limitless supply of low-cost metal from Indonesia. With roughly half of all nickel operations unprofitable at recent prices, the bosses of the largest mining companies last week sounded a warning that there was little prospect of a recovery. The potential collapse of nickel mining from Australia to New Caledonia comes at a time when western governments are scrambling to secure the supply chains needed to decarbonize the global economy. But in an ironic twist, Indonesia’s coal-fired ... (full story)
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- Posted: Feb 26, 2024 9:27am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 279
