Nickel faces existential moment with half of mines unprofitable
Nickel price fell 45% last year, and is currently hovering around $17,000 a ton.
Nickel price fell 45% last year, and is currently hovering around $17,000 a ton.
Nickel is typically produced to higher environmental standards in Australia than in Indonesia.
Aluminum retreated as much as 1.1% on Friday, while nickel pared an earlier advance of as much as 1.2%.
Eramet, which has refused to inject more funds into SLN, aims to reach a deal in the coming weeks to remove some 320 million euros of debt.
Australia is throwing a lifeline to its under pressure nickel mining sector, but the solution on offer is more of a band aid than the needed major surgery, the carving of the global nickel industry into green and dirty.
BHP's strong revenue growth of 6% was underpinned by higher iron ore and copper prices.
Horizonte Minerals is warning that it needs a whole new financing package to restart its nickel project in northern Brazil.
The government has announced a nickel financial assistance program that would give a 50% royalty rebate for 18 months.
The application marks the latest flare-up in relations between two of Russia's biggest metal companies.
The move opens the way for the crisis-hit industry to access billions of dollars in cheap government loans.