French miner Eramet said on Monday it had decided, along with Germany’s BASF, to cancel a $2.6 billion joint investment project in a nickel-cobalt refining complex in Weda Bay, Indonesia.

Brazilian mining giant Vale said on Thursday that an asset review initiative and investments in the key Sudbury and Salobo plants might lead to growth in its 2026 copper and nickel output when compared to its baseline scenario.

Brazilian miner Vale expects to reach a deal in the coming days with northern Para state to resume activities at its Onca Puma nickel mine, the firm said in a statement on Thursday.

Cornish Metals has signed a binding letter of agreement to sell its 100% interest in the Nickel King and Opescal Lake properties (together called Nickel King Property) to Northera Resources for a total consideration of up to C$8m ($5.8m).

Global nickel prices may have hit a floor, according to a Macquarie analyst who sees a market recovery driven by strong demand from the steel sector and as a surplus of ore supplies shrinks after Indonesia slowed production permits.

New Caledonia’s nickel processing industry remains at a virtual standstill after weeks of unrest in the southern Pacific territory, with Eramet-owned SLN keeping its smelter at minimum capacity and Prony Resources halting its plant.

China’s Tsingshan, the world’s biggest nickel producer, is planning to register 50,000 metric tons capacity of nickel cathode on the London Metal Exchange (LME) in the second half of 2024, a company official said on Wednesday.

Nornickel’s flagship enterprise is undergoing a large-scale reconstruction of its pyrometallurgical production, which will significantly improve the reliability of the technological process.