BHP to Halt Australia Nickel Project as Glut Upends Industry.

BHP Group Ltd. is temporarily closing its nickel business in Australia due to low prices caused by a global glut of the metal. The company will place its Nickel West business on "care and maintenance" from October until at least February 2027. BHP plans to spend A$450 million ($304 million) a year to support a potential restart if market conditions and the outlook for nickel improve. Nickel prices have declined in recent years due to increased production from Indonesia, leading to plant closures and stalled projects for established producers. BHP previously aimed to make nickel a key part of its transition away from fossil fuels. [Extracted from the article]