Andrew Forrest’s Wyloo Metals in the latest nickel miner to shut down its West Australian operations due to low prices for the key steel and battery ingredient, forcing BHP to follow suit and close a processing plant.
Wyloo chief executive Luca Giacovazzi said its WA mines, bought in mid-2023 for $760 million, would enter care and maintenance mode on 31 May. It was the fourth such announcement this month as nickel producers reel from a price plunge of more than 40 per cent in 2023.
US employment data falls short of expectations, aluminium ingot continues destocking trend this week
