The cure to low prices...New Caledonia is a major producer of nickel. Unprofitable mines might be closing in the near future. They will probably get nationalized by the French Governement but would be surprised if it gets more efficient.
LIke
Oaxacan, i have a few Premium Nickel (well, a lot for me). Interesting to see what nationalization did over there with a smelter that could not be restarted (US 90 million) after an overhaul leading to the bankruptcy of the mines when nickel was dirt cheap in the mid 1990. Gee even the exploration program sucked and now, current management expect to find a lot, a lot more nickel by using modern techniques (actually found by using BHEM awaiting drilling results).
So, expect production to go down in New Caledonia which should be good for nickel price in the long run.
BTW, the US governement just annonced that the US ambassador and the Bostwana governement is holding a conference next week on critical minerals in the country. Only one company is showcased, Premium Nickel. When have you seen the US promoting a canadian company abroad ?
https://www.ft.com/content/ad1f0489-ad29-4e27-89b4-b5618581401a