The man behind a booming mining company in Indonesia has issued a stark warning about 10,000 Aussie jobs.
The shock collapse of Australia’s nickel mining sector has threatened 10,000 high-paying jobs as a leading ASX-listed nickel miner warns bluntly those jobs are probably never coming back. That’s the view of Nickel Industries managing director Justin Werner, who leads the rising $3.3bn company with vast mining and refining operations in Indonesia.
“It is certainly challenging (for Australia) in the foreseeable future,” he told NewsWire from his home in Bali in a wide-ranging interview this week. “Even if the nickel price goes up, it’s about having a sustained nickel price above $20,000 (per tonne).
“And even at that price, for a lot of producers the margins are very thin.” A sharp decline in nickel prices, propelled by a massive surge in low-cost production from Indonesia from producers like Nickel Industries, broke Australia’s comparatively high-cost nickel miners.
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