Nornickel now earns nearly half of its revenue in Asia
In the first three months of 2023, Asia accounted for 45% of the company’s revenue.
In the first three months of 2023, Asia accounted for 45% of the company’s revenue.
The LME’s annual profit fell 27% to $56.1 million, the lowest since before a hike in trading fees in 2015.
Global nickel prices are poised to decline over the next few years as top producer Indonesia ramps up supplies and production costs fall.
Key moves in the mining sector.
The LME has made a number of changes to its rules since the crisis.
The tests include using magnets and metal detectors to ensure that the bags do in fact contain metal, and a so-called “touch inspection”.
The project, sited in Indonesia Morowali Industrial Park, will produce 20,000 tonnes per year of nickel.
Nori Clarion-Clipperton polymetallic project, 4,000 metres deep in the northeastern Pacific Ocean holds top spot.
Increased geopolitical risks have impacted the company's financial results and created new challenges for its operational and sales activities, the company said.
Automaker has signed an agreement with the miner for the supply of battery grade nickel and cobalt sulphate from the NiWest project.