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BHP stops nickel production in Western Australia

BHP stops nickel production in Western Australia

SYDNEY – Australian mining giant BHP will shut down its domestic nickel operations from October, including the country’s only nickel smelter for the important battery metal.

In a statement to shareholders on Thursday, it said the decision was due to a global oversupply that caused nickel prices to plummet last year. The oversupply was caused by a rise in production in Indonesia, where many operations are financed by Chinese investors.