Where is your source which says Indo miners are underwater at $16k. As far as I am aware they are break even at $15k.
The big mines are generally the lowest cost, we will see higher cost mines like NC / Australia etc go offline before Indo does.
Even when the supply goes offline the question becomes where does nickel rebound to? Does it go to $20k? Does that even change the story for the tech project?
Where is your source which says Indo miners are underwater at...
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