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BHP faces nickel choice this year as high-cost Australian miners suffer - Stock Market Latest

Commodities

Reuters was first to report that 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 (BHP.AX), opens new tab on its nickel strategy this year.

Market Impact

Earnings tanked at BHP’s nickel business in the 2023 financial year, sliding 61% from a year earlier to just $164 million. The division accounts for less than 1% of its earnings.

Article Tags

Topics of Interest: Commodities

Type: Reuters Best

Sectors: Commodities & Energy

Regions: Asia

Countries: AustraliaIndonesia

Win Types: Speed

Story Types: Exclusive / Scoop

Media Types: Text

Customer Impact: Important Regional Story

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