JOGMEC is to cover as much as $483,000 annually for two years in the search for deposits of the nickel-iron alloy at the Klow project in British Columbia.

Metal price was also impacted by the rise in oil prices and fears about inflation and higher interest rates in the US.

The decline comes as it plans to conduct two-month maintenance at its Toyo Smelter & Refinery in Ehime, western Japan.

Mitsui Mining and Smelting Co Ltd plans to produce 107,000 tonnes of refined zinc in the first half of the 2023/24 financial year.

The new reduction is significant for a market where — despite the recent price fluctuations — supply was looking tight for the latter part of the year.

Barrick Gold’s executive chairman John Thornton said the company more than replaced the gold reserves it mined in 2022.

Tin may not stay off the radar for too long.

Merdeka Battery will be the second nickel company to launch an IPO in Indonesia this year.