Anglo American rejects “opportunistic” $39bn takeover bid from BHP

Syrah will supply 2 kilotonnes of natural graphite per month in the year following commissioning.

The changes led by CEO Mike Henry will see several specialist teams disbanded and their functions reassigned in a bid to cut costs and simplify operations.

CEO Graham Kerr said the deal will streamline the company's portfolio and unlock capital to invest in development projects in copper and zinc.

The government is considering a 10% production tax credit that would apply to companies developing processing facilities for critical minerals.

Proponents predict AI will be indispensable to help the industry ramp up the supply of battery metals for the global energy transition to fight climate change.

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.

Alumina owns about 40% of of Alcoa World Alumina & Chemicals, the world’s largest producer of the metal.

The fuel used in steelmaking has quietly been a top performer in the energy commodity space in recent months.