Poor showing: BHP’s gobal headquarters in Melbourne is seen in this file photo. Earnings tanked at its nickel business in the 2023 financial year, sliding 61% from a year earlier to just US$164mil. — AFP
AUSTRALIAN nickel producers, hit by a sharp jump in supply from rival Indonesia, are starting to buckle under low prices that analysts expect will force a rethink by top global miner BHP Group on its nickel strategy this year.
The metal has long been feted as a key battery material for electric vehicles (EVs) because it improves energy density so cars can run further on a single charge.
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