.jpeg)
1) Canada's Trade Minister, Mary Ng, is concerned with the mining reforms that the Mexican government proposed. The proposed reforms could affect Canadian investment in the Mexican mining industry and could have impacts on North American competitiveness and supply chain resiliency as a whole according to the Canadian trade ministry. Ng also “urged Mexico to ensure they are upholding the spirit of commitments made by leaders at the North American Leaders Summit and of the Canada-United States-Mexico Agreement.” Industry leaders have come forth to criticize the proposal, saying it will cost Mexico billions in lost investment and jobs. Mexico is Canada's third-largest trading partner, valued at almost $37 billion after the United States and China.
2) The nickel market is facing a massive oversupply this year as surging Indonesia production continues to outpace the global demand. The International Nickel Study Group (INSG) is forecasting a surplus of 239,000 tons, a significant increase from last years oversupply of 105,000 tons. The INSG estimates that the global nickel usage rose by 6.3% last year and expects the same rate this year. It also expects a "mild growth" in the stainless sector this year, with the slack being accounted for by the electric vehicle battery sector. Indonesia's nickel output grew by 48% to 1.58 million tons in 2022 and by another 44% in the first two months of this year. Indonesia fully banned the export of nickel ore in 2020, hence all the mine output is now being converted to nickel products.
3) South32, the Australian miner, will consider moving into the production of manganese sulphate in the US to take advantage of the growing electric vehicle sector and battery sector, according to its CEO. The company is already the leader in producer in manganese, which is mostly used as a hardening alloy in the steel industry. According to the CEO, Graham Kerr, the company is also planning to develop its large Clark manganese oxide deposit at its Hermosa project in Arizona.