A prolonged slump in nickel prices is stress-testing producers worldwide, raising the prospect of sweeping mine closures that will deepen Indonesia’s dominance of global supply.
SLN, the New Caledonia nickel producer controlled by mining group Eramet, said on Monday it was running at reduced capacity after an electrical incident over the weekend caused a local power cut.
The miner on Monday posted a near 50% drop in second-quarter metallurgical coal output as it completed major work at an underground mine at its Illawarra operation, while its quarterly manganese production also missed estimates.
Wyloo Metals Pty Ltd., the private nickel producer owned by billionaire Andrew Forrest, is shutting down its Western Australian mines due to a sharp slump in prices for the key transition metal.