In the nickel space: * Indonesia has just joined the BRICS bloc as a full member: https://www.reuters.com/world/indonesia-join-brics-bloc-full-member-brazil-says-2025-01-06/ With fellows China, Russia and Iran in the group, can't bode well for their entry into US auto market. Where are western automakers going to get geopolitically friendly nickel supply with robust ESG credentials?
* Latest Crux interview with Mark Selby: https://x.com/CruxInvestor/status/1874818304096809337 Indo wants to own the nickel space but also in their interest to make money! It is their largest export, turning the country from trade and current account deficit to surplus. Discounts the reports of drop to 150 million tons of ore licences this year; thinks more realistic scenario is flattened output, which will affect supply-demand balance. Philippines rainy season sees production halved, worldwide stockpiles draw down, re-stocking $pike into April may become a cyclical event. Full year impact of western Ni closures means it is unlikely we'll see meaningful supply growth.
* Dec24 Resources Quarterly notes: Geographical concentration will continue to be a major feature of the global nickel market in coming years, raising the risk of supply chain vulnerabilities.
In the gas space: * You may have missed the Resources Minister getting behind gas just before Christmas: https://www.minister.industry.gov.au/ministers/king/opinion-piece/why-net-zero-will-only-be-possible-natural-gas Seems both sides of politics have recognised gas is essential in the energy transition. Supporting industry utilisation of waste gas from a major export industry (metallurgical coal) would seem to be a no brainer in meeting our Global Methane Pledge. The Bowen Basin is of course Australia's met coal cradle.
* Thanks to @GrowingSlowAndFast's Post #:77258405 regards the TPS upgrade, particularly this part: The benefits to the plant owner RATCH-Australia are a new revenue stream from providing grid services and the capability to switch flexibly between power generation and grid stabilization modes. Does QPM share in this revenue?
QPM Price at posting:
6.2¢ Sentiment: Buy Disclosure: Held
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