Wednesday, October 8, 2025

Latest

Indonesia: OPEC, But For Nickel; Australia, Canada Say No

Indonesian Investment Minister Bahlil Lahadalia floated the notion of an alliance of nickel exporting countries at the Group of 20 Summit in Bali this week. The minister argued that the international organization would assist to harmonize national policies on the in-demand battery metal.

The OPEC-like proposal was discussed by the Indonesian minister with counterparts in Australia and Canada–two of the world’s top nickel producers. Both hint at not supporting the formation of the organization.

While Minerals Council of Australia CEO Tania Constable acknowledge that it is “very useful that countries work together to solve the problems that we have around the supply of critical minerals,” she also said that Canberra will always be mindful of its international trade obligations.

“And you don’t see cartels forming,” she added.

According to a government official familiar with the situation, Canada is also unlikely to sign on to the proposal for a nickel alliance. Further, the official said Trade Minister Mary Ng refused to engage on the concept when she met with her Indonesian colleague.

Unlike the actual OPEC, the top nickel producers in the world come from different continents. But should it materialize, the cartel would probably be led by countries with the most reserves–where Indonesia and Australia approximately have a tie.

Nickel markets have returned to frenetic volatility, with the LME benchmark falling over 20% in the previous two days to $25,000 per tonne after reaching a six-month high of around $30,000 earlier this week.

In August 2022, LME suspended from its approved warehouses Russian nickel exports dated on or after July 20, related to the ongoing war with Ukraine. The move follows an earlier decision to ban other Russian metals including copper, lead, primary aluminum, and aluminum alloy from British warehouses.

Russia is the world’s third largest nickel producer after Indonesia and the Philippines.


Information for this briefing was found via Bloomberg. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Fortune Bay: The Potential Billion Dollar Project

Japan Gold Enters New Chapter as Barrick Alliance Concludes – John Proust

Barrick Mining’s “Company Defining [Gold] Discovery”

Recommended

Nord Precious Metals Produces High Grade Silver Concentrate From Tailings

ESGold Secures $9 Million In Non-Dilutive Funding From Ocean Partners

Related News

Karora Resources Hits 4.0% Nickel Over 3.5 Metres At Beta Hunt, Extends Mineralization Zone To Over 80 Metres

Karora Resources Inc. (TSX: KRR) announced this morning the follow-up drill results at the 50C...

Friday, October 8, 2021, 10:21:00 AM

Nickel Price Saga Remains Unresolved; Could Lead to Increased Volatility in Other Commodity Markets

Last week the London Metal Exchange (LME) decided to favor one category of customer, a...

Sunday, March 13, 2022, 09:00:00 AM

Glencore Drops $5 Million Into Stillwater Critical Minerals For 9.99% Stake

Glencore is evidently still interested in projects being conducted by exploration companies, electing this morning...

Friday, June 23, 2023, 08:25:49 AM

Nickel Climbs Over 40% Following Supply Chain Fears Before Giving Back Some Gains

The price of nickel this morning is up an astounding 40%, with the metal currently...

Monday, March 7, 2022, 09:29:37 AM

Giga Metals Reports US$574 Million NPV(7%) On Turnagain Project Under Pre-Feasibility Study

Giga Metals (TSXV: GIGA) has released a pre-feasibility study for its Turnagain Nickel-Cobalt project in...

Friday, September 22, 2023, 09:30:44 AM