IGO to record impairment against nickel assets in strategy shift
IGO has been undertaking a strategic review in an attempt to revaluate its resources.
Nyrstar is looking at germanium and gallium projects in Australia, Europe and the United States, the company said on Tuesday, which could help ease any shortages created by China’s export controls on the materials used for computer chips.
China has announced export restrictions on some gallium and germanium products, citing national security interests. The metals are used in computer chips and other products.
“Nyrstar is currently in the process of identifying a number of potential projects in Australia, Europe and the US,” Netherlands-based Nyrstar, majority owned by trading and logistics company Trafigura, told Reuters via email.
The company said it is aiming to add additional critical and strategic raw materials, “including Germanium and Gallium, to its product portfolio in order to support local as well as regional needs”.
(By Pratima Desai; Editing by David Goodman and Emma Rumney)
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