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First Quantum Minerals halts Ravensthorpe nickel operation due to weak prices, adding to financial woes after $10B copper mine loss in Panama.
Declines in the prices of iron ore to coal and base metals has weighed on the dollar even though the cash rate is likely to stay higher for longer.
Expensive lessons being learned
Its a dramatic reversal from the ebullience of recent years that sent prices soaring and sparked a rush by some of the auto industrys biggest players to secure future supply.
(Bloomberg) -- A meltdown in some of the most-hyped energy-transition metals is wreaking havoc across the mining world, stalling projects, scuppering deals and triggering a scramble for cash that promises to reverberate through the industry for years.Most Read from BloombergIPhone Survives 16,000-Foot Fall, Helps Steer Jet-Panel HuntChinese Billionaire Is Second-Biggest Foreign Owner of US LandUS and Allies Met Secretly With Ukraine on Peace PlanXi, Biden and the $10 Trillion Cost of War Over Ta