The sell off, page-19

Yeah, you are right. Definitely related. The low in the nickel price came about through Indonesian supply dominance, which forced the hand of Wyloo, which had consequences for BHP-Kambalda Conc, and now LM8 needs another processing route if looking to make a start in the next couple of years. I dunno how long the expected downturn in nickel prices is forecast to last, but i guarantee that Wyloo, IGO, BHP, FQM etc don't take these strong actions for a short-term hiccup. I would think we are talking two years.

This article is a tough read. Just as nickel was getting some steam up too.
https://www.abc.net.au/news/2024-02-15/bhp-considers-closure-of-nickel-west-which-employ-thousands/103470322