BHP has announced it will close its flagship Nickel West operation in Western Australia later this year, blaming an oversupply of nickel resulting from the ramp up of low-cost supply originating from Indonesia. “Like others in the Australian nickel sector, we have not been able to overcome the substantial economic challenges driven by a global […]
> South Korean steel and chemicals giant POSCO has taken a 30% stake in Australia’s Mineral Resources’ (MinRes) 50% stakes in the Mt Marion and Wodgina mines for US$765 million. Structured as a joint venture, the deal would see MinRes and POSCO hold an overall 35% and 15% of the operations, as well as corresponding rights […]
> BHP last week outlined its vision for the future of its copper operations in Chile, earmarking up to $14 billion to stabilise copper production at 1.4 million tonnes from the start of the next decade. “BHP’s growth plans are bold but well-supported by strategic initiatives and detailed engineering,” said Ivan Llancas, copper analyst at Benchmark. […]
> Nickel prices spent much of Q3 2025 trading at five‑year lows even as intermediates surged, highlighting the deepening split between China‑led chemical demand and a structurally oversupplied global metal market. Nickel sulphate EXW China climbed 7% across the quarter to RMB 27,800–28,020/t ($3,920–3951/t), its highest since March. Precursor and cathode producers rebuilt inventories in August and […]
> In the third quarter of 2025, 18 of the largest 25 copper miners reported quarter-on-quarter decreases in their output, including the top four miners. The total Q3 copper production reported by the top 25 miners hit 3.72Mt. “In the third quarter, many companies saw lower production compared to the previous quarter. However, most did not […]
> US President Trump and Australian Prime Minister Anthony Albanese have signed a landmark Critical Minerals Framework to bolster both nations’ access to rare earths and other critical minerals, in an effort to counter China’s dominance over strategically important supply chains. The framework indicates that the two governments will utilise a range of policy instruments to […]
> Benchmark has tracked over $50 billion of energy transition funding, throughout 2025 in its Energy Transition Capital database, with the largest share allocated to the battery supply chain. The role of debt, grants, and equity Debt The EV, battery, and battery materials markets have matured rapidly over the past few years. As a result, debt is playing an increasingly […]
> The lithium supply chain is experiencing structural dislocations, as concentrate (spodumene and mica) supply faces a shortfall of 60kt LCE this year, despite a 70kt LCE surplus in the broader chemical market, according to the latest edition of the Benchmark Lithium Forecast. Concentrate demand is projected to grow 34% year-on-year, owing to the expansion of […]
> BHP’s bid to take over Anglo American for $49 billion collapsed after weeks of negotiations on Wednesday. The bid was the largest in the commodity sector’s recent history. Anglo declined to extend the 29 May deadline to allow BHP more time to make a further offer, after having already extended the deadline from a week […]