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11.02.26 - 14:54
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Nickel Futs Jump As Indonesia Instructs World′s Largest Mine To Slash Output (ZeroHedge)
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Nickel Futs Jump As Indonesia Instructs World's Largest Mine To Slash Output
Nickel futures in London jumped on Wednesday after the world's biggest nickel mine in Indonesia was forced to drastically reduce output, in an effort to tighten global supply to lift prices of the critical battery metal.
French miner Eramet, which operates Weda Bay Nickel alongside Tsingshan Holding Group, said Indonesian authorities have capped the mine's 2026 production at 12 million tons of nickel ore, a massive reduction from the 42 million ton quota set by Jakarta in 2025.
Here is Eramet's statement from earlier:
Eramet informs the market that its joint-venture PT Weda Bay Nickel ("PT WBN") has received an initial notification from the Indonesian authorities to proceed with the submission of a Work Plan and Budget (RKAB) reflecting an annual production and sales (internal and external) volume of 12 Mwmt (vs an initial RKAB of 32 Mwmt granted for 2025 and revised upward to 42 Mwmt in July 2025).
The ...
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