Crisis Talks Held as Lithium and Nickel Prices Crash and Mines Close

Mining companies will hold talks with the government this week amid concerns about lithium and nickel prices amid mine closures. The two minerals are critical in the manufacture of electric vehicle batteries. The lithium carbonate price has collapsed 80 percent in the past 12 months, trading economics data shows. Meanwhile, the nickel price has slumped 40 percent in a year. The price falls have occurred due to slower demand for electric vehicles amid higher interest rates and high supply, particularly in Asia. Indonesia is a dominant player in the nickel market, with backing from Beijing. Mineral Resources Minister Madeleine King said the lithium and nickel markets can “change quickly and fluctuate quickly.”...