(Jan 2): PT Vale Indonesia has suspended operations at its nickel mines after not receiving approval for its annual work plan from the authorities. Nickel prices largely trod water in 2025 before rallying sharply in December on expectations for a tighter market. Nickel futures on the London Metal Exchange were 1% higher at US$16,855 (RM68,331) a tonne by 11.15am Singapore time. Vale Indonesia is one of the country’s biggest nickel miners and is making large investments in high pressure acid leach plants, which produce a form of the metal used by the electric vehicle sector. HPAL capacity is set to expand significantly in Indonesia this year, from six facilities to at least 14.

Source: The Edge Markets January 02, 2026 03:52 UTC