Financial Survey: Pure Energy Minerals (OTCMKTS:PEMIF) vs BHP Group (NYSE:BHP) themarketsdaily.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from themarketsdaily.com Daily Mail and Mail on Sunday newspapers.
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. But Australia's producers have been squeezed by Indonesia's emergence as a supply powerhouse and on the demand side by innovations away from using nickel in batteries, which have led to a 40% price slump over the past year to around $16,000 a ton. Lithium iron phosphate (LFP), which does not use nickel, has been gaining ground as the EV battery chemistry of choice, especially in China, because LFP batteries can be produced more cheaply, making EVs more affordable.
Australia s high-priced nickel mining sector, dominated by the firm BHP, faces constraints due to Indonesia s dominance in the supply arena. Additionally, transformative developments moving away from nickel use in batteries have triggered a substantial 40 percent price decrease over the past year, stabilizing around $16,000 per ton.
BHP Group, the world's biggest miner by market value, said first-half production of iron ore and metallurgical coal fell year-on-year, while output of.
Raymond James & Associates boosted its holdings in BHP Group Limited (NYSE:BHP – Free Report) by 6.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 265,247 shares of the mining company’s stock after purchasing an additional 15,039 shares during […]