S&P GSCI Nickel Index

Index

Market Closed - USA 05:18:55 2024-07-11 am EDT			5-day change	1st Jan Change
270.6 ^PTS	+0.31%		-2.16%	+1.98%

09:48am	BHP to Suspend Australian Nickel Operations Amid Glut of EV Metal -- Update	DJ
09:27am	BHP Group to Temporarily Halt Western Australia Nickel Operations Amid Oversupply	MT

BHP to Suspend Australian Nickel Operations Amid Market Slump

July 11, 2024 at 03:16 am EDT

By Rhiannon Hoyle

BHP Group said it will suspend its Australian nickel operations later this year following a sharp fall in prices for the battery metal.

The world's biggest miner by market value said its Nickel West mining and processing operations and its West Musgrave project will be shuttered from October.

The company intends to review the decision by February 2027, it said.

BHP said that the global nickel market is facing a glut and that price forecasts for the rest of the decade have fallen sharply as a result.

Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com

(END) Dow Jones Newswires

07-11-24 0316ET

Stocks mentioned in the article

Add to a list Add to a list 0 selected To use this feature you must be a member Log in Sign up	Price	Change	5d. change	Capi.
S&P GSCI COPPER INDEX 2	696.5 PTS	-0.28%	-0.49%	-
S&P GSCI NICKEL INDEX	270.6 PTS	+0.31%	-2.16%	-
WTI	81.58 USD	-0.21%	-2.44%	-
BHP GROUP LIMITED	43.56 AUD	+0.90%	-2.70%	148B

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