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According to sources, a new Singapore-based commodities exchange, preparing to roll-out a futures contract for nickel used in electric vehicles (EVs), also aims to add contracts for other metals used in EV batteries.

Global nickel production will outpace demand to the tune of 239,000 metric tons next year, according to the International Nickel Study Group (INSG).

Vale is a major global producer of iron ore, copper and nickel.

Glencore Plc said on Wednesday it will stop funding the loss-making Koniambo Nickel SAS (KNS) business it co-owns in New Caledonia at the end of February, adding to pressure on the troubled nickel sector in the French Pacific territory.

The Philippines’ lower house on Tuesday approved a bill that overhauls the tax system for mining, which the government said will be simplified to make the industry more attractive to investors.

Recently, South Korea’s LG Chem Ltd has entered a partnership with China’s Huayou Group’s subsidiary Youshan to build a joint electric vehicle (EV) battery material plant in Morocco to diversify its portfolio.

The Philippines is eager to expand economic cooperation with the United States, particularly in critical minerals and production of battery components, Philippines Foreign Minister Enrique Manalo said on Friday.

Asian Battery Minerals (ABM), which was a participant in the 2023 BHP Xplor accelerator program and is targeting potential nickel deposits in Mongolia, joined forces with Getech, a locator of subsurface resources, and just completed an initial round of explora...