LME clearing house unveils reforms, to triple member capital requirements
The exchange also said that LME Clear would reduce the amount members have to contribute towards its default fund.
Indonesian state-controlled miner PT Aneka Tambang is planning to increase its nickel ore output to 8.44 million wet metric tonnes (WMT) in 2021, the company said in a statement issued late on Saturday.
This is 77% higher than its 2020 output when it produced 4.76 million WMT.
Nickel ore sales for this year are targeted at 6.71 million WMT, up 103% compared to the unaudited 3.3 million WMT nickel ore sold in 2020.
For ferronickel, output and sales are both targeted at 26,000 tonnes nickel in ferronickel (TNi), compared to 2020’s 25,970 TNi and 26,163 TNi of output and sales respectively.
Bauxite output is targeted at 3 million WMT this year, a 93% increase compared to 1.55 million WMT produced in 2020.
Bauxite sales are targeted at 2.73 million WMT, a 122% jump compared to 2020 sales of 1.23 million WMT.
(By Bernadette Christina Munthe; Editing by Ed Davies)
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