Andrew Forrest urges China to demand greener nickel
The chairman of Fortescue Metals said electric vehicle manufacturers should be wary of Indonesian nickel.
The chairman of Fortescue Metals said electric vehicle manufacturers should be wary of Indonesian nickel.
Key moves in the mining sector.
The transaction is required by the government to extend Vale Indonesia's operating permit beyond 2025.
The Shanghai exchange will look to take advantage of restructuring in the global nickel pricing system, its deputy general manager said.
The miner acquired 51% of PT Blue Sparking Energy by converting part of a loan to the company into equity.
Meanwhile, it is still awaiting a new special mining permit for its operations beyond 2025.
Although Nornickel itself and its metals are not a target of Western sanctions some consumers are voluntarily shunning deals for its metals and of products made from Russian raw materials.
Nornickel's 2023 net profit and revenue declined due to low metal prices.
In an update on Thursday, the nickel developer said the total funding required is in the region of $567-$592 million.