Trafigura bets on green-nickel squeeze in defiance of China cure
Just weeks after a novel production method upended the nickel market, two of the top names in the battery-supply chain made a play that suggests the world’s worries over sourcing cheap, clean supplies of the metal are far from over.
Commodity trader Trafigura Group and Elon Musk’s Tesla Inc. signed a deal in late March to enter the Goro mine in New Caledonia, part of a group that will take the operation off the hands of Vale. The transaction wasn’t a surprise, with Vale in talks to offload the under-performing mine for months. But the deal’s timing was telling.
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