Indonesia says its nickel supply will keep global prices low

Global demand for nickel is expected to increase to 3.47 million tons in 2024 from 3.20 million in 2023.

Major construction works will begin after the rainy season which is about to start, and will take three years to complete.

The overall message from the Australian government's commodity outlook is that evenly balanced risks translates into still robust volumes, but at lower prices.

Lithium prices are spiraling down toward the lowest level in two years on concerns over the strength of Chinese demand.

After signing a minerals deal with Japan in March, the US, along with both the EU and Britain, is now seeking similar agreements.

The gathering brought together CEOs from more than 50 companies from the oil and gas sector and the aluminum, steel and cement industries.

The governors of the country's lithium-producing provinces are drawing up plans for lithium miners to make a "special contribution" so state coffers can benefit from extraordinary profits.

In Friday's public statement, Sigma reiterated its previous position that the injunction would not hurt its expansion.

Provincial and federal officials want to tap the profits of lithium companies with an annual tax that would be put toward building infrastructure.