Let the drill bit do the talking., page-73

I have only done limited research into nickle but from what I can see every pure play has capacity on care and maintenance. This would obviously be a barrier to any rapid uptick in prices as capacity would come back online quite rapidly. The other issue is how much underutilized capacity BHP are sitting on regarding nickel? There is no doubt that nickel prices have been low for a while and it makes up a large ratio of most compositions of EV batteries which seem to be increasing in demand. This seems to be a resource where the lowest cost of production really does matter.