Shares of Glencore-backed Horizonte Minerals (AIM, TSX: HZM) plunged on Monday after the company announced it has failed to secure additional financing needed to complete the construction of its Araguaia nickel project in Brazil.

French mining group Eramet said on Wednesday it had reached an agreement with the French government to continue its subsidiary SLN’s mining operations in New Caledonia’s Northern Province.

Nickel miner PT Vale Indonesia is aiming for output this year of about 70,800 metric tons of nickel in matte, an official said on Monday, a similar volume to the 70,728 metric tons produced in 2023.

Russia’s Nornickel, the world’s largest palladium producer and a major producer of high-grade nickel, said on Friday that some clients in the European Union had refused to buy products made with Russian metals.

Brazilian miner Vale expects nickel markets to swing to a global deficit by 2028 from their current oversupply, an executive said on Tuesday.

Indonesia has issued mining production quotas of 152.62 million metric tons of nickel ore and 44,481.63 tons of tin so far this year, and is working to accelerate the approval process, a senior mining ministry official told parliament on Tuesday.

Listed Nickel Asia Corp. (NAC) said its net income last year plunged by more than half due to lower nickel ore prices.

Indonesia’s incoming president, Prabowo Subianto, has pledged to continue predecessor Joko Widodo’s nickel “downstreaming” policy but faces the task of reducing oversupply while pushing to strengthen the processing industry, his advisers say.