The buyer will also pay Pacific Nickel a 1% royalty on nickel ore shipped from Kolosori, provided that monthly shipments exceed 170 000 t and benchmark prices on the Shanghai Metals Market average above $72/t.
Iron-ore miner BHP Group and steelmaker Posco have signed a memorandum of understanding to advance hydrogen-based ironmaking technology as part of efforts to decarbonise the steel sector, the companies said last week.