China will continue to uphold its dominant position in the global shipbuilding market this year.

Federal Minister for Resources Madeleine King and Western Australian Minister for Mines David Michael met with nickel and lithium producers last week to discuss challenges facing the industry.

An Australian mining association has called for a new production tax credit during meetings with senior ministers called as nickel and lithium miners curtail projects and review new mines in response to a global slump in prices.

Exploration and development company FPX Nickel has closed the private placement financing with new cornerstone investor Sumitomo Metal Mining, raising C$14.45-million.

New Caledonian nickel producer Prony Resources is facing an “alarming” situation amid a slump in metal prices as it waits for the possibility France will offer monetary support for the territory’s nickel sector, a company spokesperson said.

Monthly output marginally lower.

Iron ore shipments from Western Australia's (WA) Port Hedland rallied in December, although 2023 exports were below 2022 as increased sales to India and Vietnam were offset by reduced deliveries to China and Japan.

UK-Australian mining firm Rio Tinto shipped 331.81mn t of iron ore from Western Australia (WA) in 2023.