Nickel ended 2024 trading at four-year lows, a spectacular reversal of fortune for a metal that soared so high in 2022 it almost broke the London Metal Exchange.
In its current form, a royalty bill approved by the lower house last month would take company taxes well beyond the range of other major copper jurisdictions.
Government pressure and a rise in environmental, social and corporate governance investing will motivate firms to alter existing techniques, Fitch says.