BHP flags possible writedowns at nickel unit on low priceshttps://www.mining.com/web/bhp-reports-2-fall-in-second-quarter-iron-ore-output/
BHP Group said on Thursday it was reassessing the value of its nickel operations after a price slump, in a move that could lead to writedowns amid an oversupply of the metal used in electric vehicle batteries.
The world’s biggest listed miner, which signed a deal to supply nickel to Tesla in 2021, is reevaluating the business after prices fell 40% in the last year as Indonesian supply jumped, causing restructures and writedowns at nickel mines across Australia.
And this is BHP. Little Sherritt's share price fell 50% in response over the same timeframe.