NICKEL NEWS, page-1220

BHP much hyped Ni production increase fizzled out and wont get any better & likely go lower.

Their offtakes signed with Tesla and Ford are dead in the water and unfulfillable on that current production, Tesla alone was supposed to be an extra 35ktpa but got nowhere near this.
BHP are in breach of several Ni supply contracts looks like with no capacity to complete at all or boost production in years to come.
They cant even keep to the prior production levels ie revised guidance and finished in line with the lower end of original guidance.

And soon the Kambalda mill goes fallow as MCR is in breach of its offtake terms with BHP with low spec ore and AFAF likely to pull out it and warehouse MCR assets like he did with all the others like Noront.
BHP now reliant on the low grade UG Mt Keith which POS BS surpasses in grade (0.6 v 0.72%) and surface pit level (250m v 70m) and location (350km to Kalg v 50km to Kalg).

So the Ni guidance & actual production for BHP may get even worse & their Nickel West unit is in serious strife and their much vaunted $1B upgrades of its Kwinana refinery lies unused on current levels. BHP now started cashburning $2B on OZL nullabor black hole for next 10 years with no Ni production on sight for 6-10 years after blowing $11B on buying OZL

POS CEO stated BHP would love to get their hands on our low impurity quality ore.
LOL.

https://w w w . k i t c o . c o m / n e ws/2023-07-20/Mining-giant-BHP-increases-copper-and-iron-ore-production-in-fiscal-2023-achieves-annual-guidance.html

"The company’s nickel production increased by 4% to 80 kt (from 2022) due to an increased proportion of concentrate and matte products and inventory drawdowns. Nickel production is expected to be between 77 and 87 kt for the 2024 financial year (same as this year). According to a company press release, FY23 production guidance was achieved for copper, iron ore, metallurgical coal and energy coal, while nickel achieved revised guidance and finished in line with the lower end of original guidance.
BHP also reported that its minerals exploration and evaluation expenditure increased by 37% for the year ended 30 June 2023 to US$350 million, of which US$294 million was expensed."