Cobalt is among battery materials that are suffering sharp price declines from rising global output this year.

Unlike many Russian companies, Nornickel has not been directly targeted with Russian sanctions over its actions in Ukraine.

The Araguaia project is facing a 35% cost jump and first production has been delayed to the third quarter of next year.

A decade of underinvestment in new supply and an enormous metal intensive energy transition have offered little incentive for investors to back the next generation of deposits.

Highland Valley Copper mine in British Columbia is owned by Teck Resources.

The bill was approved in a third and final brief debate with 44 votes in favor, five against, and two abstentions.

The project includes the construction of a hydrometallurgical plant at the Comide mine.