Nickel, which had steadily gained this week in anticipation of the sanctions news, pared an earlier advance of as much as 1.2% to trade just 0.3% higher.

Australian resources firm BHP will report an impairment of $2.5bn on its Western Australia nickel business.

Glencore Plc-backed Horizonte Minerals Plc is warning that it needs a whole new financing package to restart a nickel project in northern Brazil after a review revealed the mine will cost 87% more than thought.

On February 19th, the APNI released INPI Index.

Western Australia said on Saturday it would offer royalty relief to nickel producers in a bid to buoy the struggling industry.

The Koniambo Nickel SAS (KNS), a joint venture (JV) between Société Minière du Sud Pacifique SA and Glencore in New Caledonia, will transition into care and maintenance, it was announced on Monday.

Indonesia and Vale Base Metals have concluded negotiations and agreed to a price for the portion of shares the miner will sell in its Indonesian unit, the mining minister said on Friday.

The French government plans to offer fresh subsidies and loans for a New Caledonia nickel plant co-owned by commodities group Glencore but won’t go any further than that, Finance Minister Bruno Le Maire said on Tuesday.