It’s possible that I shall make an ass of myself. But in that case one can always get out of it with a little dialectic. I have, of course, so worded my proposition as to be right either way (K.Marx, Letter to F.Engels on the Indian Mutiny)
Wednesday, October 07, 2026
Ni
Anglo American threatens to close Brazilian nickel operation if EU blocks sale to MMG
Tapping at Niquelândia, Brazil. Image: Anglo American via Flickr.
Anglo American (LON: AAL) will likely shut down its Brazilian nickel operation if EU antitrust regulators block its sale to Hong Kong-listed mining and metals company MMG, its chief operating officer will warn regulators at a closed hearing on Thursday, according to prepared comments obtained by Reuters.
Anglo American Brazil COO Ruben Fernandes and Cristina Morgan, the company’s chief financial officer in Brazil, will seek to convince the European Commission that the $500 million deal with MMG will not hurt European stainless steel producers.
The Commission, which is the EU antitrust watchdog, had last month warned that MMG may divert the supply away from Europe to the detriment of its stainless steel producers. The case comes amidst EU concerns about the bloc’s reliance on China for critical minerals.
“The protracted regulatory review has already caused considerable uncertainty locally, but the consequences of the EC prohibiting the sale of the business would be very troubling,” Fernandes will tell regulators, according to remarks seen by Reuters.
“Recognising that MMG is the only credible buyer that we identified, and given our commitment to exit our nickel business more than two years ago, we will have little option but to head towards ‘care and maintenance’ as the pathway to closure in the event that the Commission prohibits the sale to MMG,” he will say.
According to the prepared remarks, he will tell regulators that it is possible to find a practical solution that will address the EU concerns.
Morgan will underline MMG’s credentials as a credible buyer who will continue to serve customers in Europe.
“The selection process scrutinised the prospective bidder’s operational capabilities and track record of operating responsibly, ability to develop future projects and intentions for our employees, fair value, along with the ability to fund the acquisition,” she will tell the EU watchdog.
“MMG is a fellow ICMM member, is well known to us and has that track record of being a responsible operator and offering deliverable value for the investment,” she will say, referring to the industry body the International Council on Mining and Metals.
MMG’s executive general manager of corporate relations Troy Hey will also be at the hearing arguing for the merits of the deal to senior Commission officials and lawyers.
(Reporting by Foo Yun Chee; Editing by Aurora Ellis)
Indonesia plans to impose a moratorium on new plants making partly processed nickel
Aerial view of a large-scale nickel mining site on a tropical island near Wayag, Raja Ampat, Indonesia. (Image by Tom | AdobeStock.)
Indonesia is discussing a plan to impose a moratorium on development of new nickel processing facilities that produce partly processed metals, the senior minister overseeing mining, Bahlil Lahadalia, said on Wednesday.
The plan is part of the country’s efforts to prop up prices of nickel products, said Bahlil.
Bahlil was named as Coordinating Minister of Downstreaming and Energy Transition in President Prabowo Subianto’s cabinet reshuffle last week, on top of his current role as energy and mining minister, to streamline investment policies into downstream resources industries.
Oversupply of partly processed nickel products from Indonesia has caused prices to drop, Bahlil said.
“We are considering to minimise the industries that produce semi-finished products, and we may even impose a moratorium, while we promote industries that produce end-products,” he told reporters.
Indonesia is the world’s largest exporter of nickel products, but most of its shipments are crude metals such as nickel pig iron or ferronickel.
The government will also maintain its policies to control the mining quota of nickel to support prices, Bahlil said.
(Reporting by Fransiska Nangoy; Editing by Muralikumar Anantharaman)
BHP sells shuttered Australian nickel plant to Gold Fields
BHP Group (ASX: BHP) will sell its Kambalda nickel concentrator plant and associated land in Western Australia to Gold Fields Ltd. for an undisclosed price.
Gold Fields will “evaluate options for the long-term use of the concentrator,” BHP said in a statement Wednesday. The sale includes mining tenements and mineral rights.
The Kambalda processing mill was shut in mid-2024 as BHP suspended operations across its entire Nickel West business as prices of the metal plunged on global oversupply.
BHP said it was continuing to review the overall business and a decision on future of the other assets, which includes a nickel refinery, smelter and two major mines, is expected to be made by February.
The world’s biggest miner took a $2.5 billion impairment on its nickel assets in 2024, after a surge in supply of the battery metal from Indonesia dragged prices down.
Read More: Top Miner BHP Takes $2.5 Billion Nickel Hit After Price Fall
Westwin Elements announced Monday plans to invest $502 million over five years to establish a commercial-scale Class 1 nickel refinery at the Belwood Industrial Site in Natchez, Mississippi in a step toward building America’s domestic critical mineral refining capacity.
The Natchez facility will build on experience at Westwin’s 20-tonne-per-year demonstration plant in Lawton, Oklahoma, which has completed multiple production campaigns of on-spec Class 1 nickel powder using nickel carbonyl refining technology, the company said.
Westwin has completed a Bankable Feasibility Study for the Natchez site and secured a long-term lease for the Belwood site. The first phase of the project plans to produce 18,000 tonnes of Class 1 nickel annually, with commissioning targeted for 2029.
Binding feedstock and offtake agreements already in place support production and revenue projected for the first phase of the project, ensuring the refinery’s early success upon completion of its construction.
“Westwin was founded with the mission of delivering a win for the West and restoring the blue-collar American dream by bringing a critical industry back home,” Westwin CEO KaLeigh Long said in a news release.
“The Natchez site gives us the capacity to produce American-made Class 1 nickel at scale, strengthening a critical domestic supply our country needs while creating high-paying careers,” Long said.
The Belwood site offers the infrastructure and logistical advantages needed to support commercial-scale production, including immediate proximity to Natchez’s inland port and access to transportation networks serving the region.
High-purity Class 1 nickel is used in national defense, aerospace, advanced manufacturing, specialty alloys, energy and other industrial applications. Developing domestic refining capacity is critical to reducing U.S. dependence on foreign processing and strengthening the supply chains that support those industries.
The project is expected to create 134 full-time jobs in its first phase of commercial operations, at an average annual salary of approximately $84,000, Westwin said.
Sumitomo Metal expects global nickel market to stay in surplus in 2027
Haul truck is transporting material at a nickel mine site. Stock image.
The global nickel market is expected to remain in surplus next year as Indonesian output recovers on potentially higher mining quotas and lower sulphur and sulphuric acid prices, Japan’s top nickel smelter Sumitomo Metal Mining (TYO: 5713) said on Tuesday.
SMM forecasts a global nickel surplus of 34,000 metric tons in 2027, narrowing from 38,000 tons this year. Indonesian production of low-grade nickel pig iron (NPI) is expected to rebound 11.9% to 1.88 million tons, according to the company’s half-year market outlook.
Indonesian NPI production is seen falling 2.3% in 2026 after rising 12.4% in 2025 due to government cuts in mining quotas. Indonesia accounts for more than 60% of global nickel output.
Potentially higher mining quotas could boost NPI output, while lower sulphur and sulphuric acid prices, key inputs in nickel production, could increase production of nickel intermediates such as mixed hydroxide precipitate, SMM General Manager Shirou Imai told reporters.
Global nickel demand is forecast to rise 6% to 3.92 million tons in 2027, supported by steady stainless steel consumption and rising demand for speciality steel used in AI data centres. Supply is seen rising 5.8% to 3.96 million tons.
“In 2027, we anticipate that a recovery in NPI production will ease the shortage of Class 2 nickel, while the continued decline in Chinese cathode production will soften the surplus of Class 1 nickel,” Imai said, adding that the overall market would remain in surplus.
Class 1 nickel is high-purity refined metal used in batteries and other applications, while Class 2 mainly comprises NPI and ferronickel used in stainless steel.
SMM, which supplies cathode materials for Panasonic (TYO: 6752) lithium-ion batteries used in Tesla (NASDAQ: TSLA) EVs, expects global nickel demand for batteries to rise to 620,000 tons next year from 560,000 tons in 2026, driven by continued growth in Chinese EV sales.
(Reporting by Yuka Obayashi. Editing by Mark Potter)
Aerial view of a large-scale nickel mining site on a tropical island near Wayag, Raja Ampat, Indonesia. (Image by Tom | AdobeStock.)
The Kambalda nickel concentrator. (Source: BHP.)
Haul truck is transporting material at a nickel mine site. Stock image.
No comments:
Post a Comment