India’s NMDC Freezes Nickel Expansion Plans Amid Global Oversupply
State-run miner NMDC halts its planned entry into the nickel sector due to severe global oversupply driven by Indonesia's dominant production output.
POLICY WIRE — New Delhi, India — State-run mining major NMDC has officially suspended its planned expansion into the nickel sector, driven largely by mounting oversupply pressures originating in Indonesia.
According to two company insiders with direct knowledge of the strategy, the decision reflects broader market anxieties regarding excess global inventory. Indonesia currently dominates the landscape, accounting for more than 60% of total worldwide production of the metal.
Market projections indicate that the international nickel market will maintain a steady surplus stretching through the year 2026. Prior to halting the initiative, the Indian state-owned enterprise had also evaluated potential Russian nickel assets alongside prospective supply arrangements with Nornickel.
Reporting by Policy-Wire (PW)
