Australian miner South32 will sell its Cerro Matoso ferronickel operation in northern Colombia to CoreX Holding BV's subsidiary, incurring a $130 million impairment charge. Global nickel prices remain under pressure from Indonesia's supply surge, forcing some operators to cut costs, impair assets, and suspend mining. South32 initiated a strategic review of the asset in January 2024 following nickel price declines. The company's own nickel production fell 6% in the first nine months of FY2025 due to lower ore grades.
Written by Cora Ji, jiruyan@mysteel.com
