Wyloo Pty. Ltd. is a wholly owned portfolio company of Australian private investment group Tattarang Pty. Ltd. Tattarang is owned by Andrew and Nicola Forrest, serving as a holding company for the Forrest family’s private business interests. Tattarang also has a 35.15% interest in iron ore major Fortescue Ltd.
At the end of May, Wyloo put its Cassini and North Kambalda operations on care and maintenance in a bid to weather market oversupply caused by Indonesia flooding the market with cheap nickel.
Wyloo has been lobbying for sustainably produced nickel to be factored into pricing. And with certain types of nickel falling out of favor, CEO Luca Giacovazzi says the future in offtake contracting is uncertain for the London Metal Exchange (LME). The exchange approved the listing of the first Indonesian brand of refined nickel in May.
S&P Global Commodity Insights and Giacovazzi discussed how the nickel market is evolving considering recent key supply, demand and trade decisions and trends. The following conversation has been edited for clarity and brevity.
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