[SMM Nickel Market Flash] Chinese Nickel Majors Eye Africa and Pacific as Indonesia Policy Pressure Mounts

Published: Jun 7, 2026 12:45

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Leading Chinese nickel producers are scouting investment opportunities outside Indonesia as tightening policy conditions test the economics of their Indonesian operations. One major stainless steel group is considering a large-scale industrial park in Madagascar covering nickel and other minerals, inspired by its Indonesian model, while a major HPAL operator is in talks to acquire a stake in an undeveloped nickel sulphide project in Tanzania and has made an offer for a stake in an idled nickel operation in New Caledonia. If completed, these would be the first nickel investments outside Indonesia for both groups. Madagascar lifted a 16-year moratorium on new mining permits in January, though it is currently under a transitional military government following a coup last year.

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