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Top nickel producer Indonesia will not approve any new mining output quotas this year, government official Septian Hario Seto said, a move likely to further tighten supplies of nickel ore.

Russian metals and mining giant Norilsk Nickel is not yet generating free cash flow on a stable enough basis to resume dividend payments, but does not rule out doing so in future, head of investor relations Mikhail Borovikov told reporters on Thursday.

Vale Base Metals is committing $10 billion for investment in Indonesia over the next decade to capture demand for metals such as nickel and copper for electric vehicle production, its chief executive said on Thursday.

Indonesia has asked the United States to begin talks on a trade deal for critical minerals so that exports from the Southeast Asian country can be covered under the US Inflation Reduction Act, an Indonesian ministry said on Thursday.

Indonesia’s mining quota distribution has been delayed having reverted to an older approval process due to an ongoing investigation into illegal mining, a senior official said on Monday, assuring there was sufficient nickel ore for smelters.

Prices of nickel ore in top global producer Indonesia have surged about 10% in recent weeks, say local buyers, after an investigation into mining quotas disrupted production of the metal used in stainless steel and batteries.

MMC Norilsk Nickel PJSC has established an office in Dubai, becoming the largest Russian metals and mining firm to set up in the United Arab Emirates following the Kremlin’s war in Ukraine.

A consortium of Ford Motor Co and South Korean companies on Thursday said they would build a C$1.2 billion ($887 million)plant to produce electric vehicle (EVs) battery materials in Becancour, Quebec, a town seeking to become an EV-supply-chain hub, Canada’s ...