June 2023

The London Metal Exchange cancelled $12 billion worth of trades when nickel prices went haywire in March 2022 to “save” China’s Tsingshan, lawyers for two financial firms suing the exchange told London’s High Court on Tuesday. U.S.-based hedge fund Elliott Associates and market maker Jane Street Global Trading say the LME unlawfully cancelled trades made …

LME cancelled nickel trades to ‘save’ Tsingshan, London court told Read More »

PT Trimegah Bangun Persada Tbk (NCKL), through its associate entity, PT Halmahera Persada Lygend (PT HPL), targets to deliver 240,000 tons of nickel sulfate products in a year, or according to the factory’s production capacity. The first shipment was made on Friday, June 16, 2023. A total of 5,584 tons of nickel sulfate packed in …

NCKL targets exports of nickel sulfate of 240,000 tons a year. Read More »

Glencore (GLEN.L) on Monday June 12 offered to buy Teck Resources’ (TECKb.TO) steelmaking coal business as a standalone unit, after the Canadian miner twice rebuffed its $22.5 billon offer to combine the two companies. Teck Resources said on June 6 it had received several proposals for its coal business, as it reworks a plan to …

Glencore makes offer for Teck’s steelmaking coal business Read More »

The Ministry of Energy and Mineral Resources (ESDM) revealed that out of 12 bauxite smelters in Indonesia, only four have been completed. In fact, President Joko Widodo (Jokowi) has banned bauxite exports since June 10, 2023. The Special Staff of the Minister of Energy and Mineral Resources, Irwandy Arif, explained that the bauxite export ban …

Jokowi bans bauxite exports, but only four bauxite smelters in Indonesia have been completed Read More »

PT Merdeka Battery Materials Tbk (MBMA) has completed the acquisition of matte nickel producer, PT Huaneng Metal Industry (HNMI). The acquisition of 60% HNMI shares by MBMA is effective as of May 31, 2023 with a total transaction value of US$ 75 million. As an illustration, this amount is equivalent to Rp. 1.11 trillion if …

Merdeka Battery (MBMA) Share Recommendations After the Acquisition of Nickel Matte Manufacturers Read More »

The Ministry of Energy and Mineral Resources stated that domestic coal utilization or Domestic Market Obligation (DMO) in the first quarter of 2023 reached 34 million tons or 19 percent of the target of 176 million tons in 2023. “Coal production in the first quarter reached 167 million tons from the target of 694 million …

Coal DMO reached 34 Million Tonnes in the first quarter of 2023, Still Far From Target Read More »