On Monday, April 21, renowned investment bank Macquarie announced an upward revision of the copper production target for global mining giant BHP Group, citing strong performance at the Escondida mine in Chile. Macquarie projected that BHP's copper production would increase by 3%, 11%, and 5% during the fiscal years 2029, 2030, and 2031, respectively. The bank noted that BHP navigated the rainy season, marked by tropical cyclones Zelia and Sean, more effectively than its competitors in Q1. BHP reported a 10% increase in copper production to 513,200 mt in the first quarter.

Macquarie Asset Management has signed an agreement with Hydro relating to the future acquisition of 49.9 per cent of Hydro’s renewable energy company Hydro Rein.

According to foreign news on May 31, an analyst at Macquarie said that with the rapid increase in Indonesian production, the global nickel market is expected to face a supply glut every year, at least until 2027.

SHANGHAI, May 31 (SMM) - At the SMM 2023 Indonesia Nickel and Cobalt Industry Chain Conference, Jim Lennon, senior commodity consultant at Macquarie Group, made a detailed analysis of Indonesia's role in meeting the soaring demand for nickel.

APNI Secretary General Meidy Katrin Lengkey stated at a meeting with the Indonesian House of Representatives Legislative Body (Baleg DPR RI) on Wednesday, January 22, "Yesterday, we discussed the issue of reducing production to 150 million mt. Just this news alone prompted Macquarie London to issue a statement saying that if the production quota in the Work Plan and Budget (RKAB) is reduced to 150 million mt, nickel prices will return to the level of $20,000 per mt. Meanwhile, today's price is still around $15,000 per mt.

APNI：The total approved nickel ore mining Work Plan and Budget (RKAB) for 2025 is 298.49 million mt APNI Secretary General Meidy Katrin Lengkey stated during a meeting with Indonesia's House of Representatives Legislative Body (Baleg DPR RI) on Wednesday, January 22, "Yesterday, we discussed the topic of cutting production to 150 million mt. Just this news alone prompted Macquarie London to issue a statement saying that if the production quota in the Work Plan and Budget (RKAB) is reduced to 150 million mt, nickel prices will return to the level of $20,000 per mt. Meanwhile, today's price is still around $15,000 per mt." Meidy explained that the total approved nickel ore mining Work Plan and Budget (RKAB) for 2025 is 298.49 million mt. On the other hand, Indonesia's current nickel ore production accounts for 63% of global production. This situation has led to a supply surplus in the global nickel market. The day before, on Tuesday, January 21, Meidy stated in an interview, "Production cuts may target newly established companies that have not yet received government-approved RKABs. For companies that have just submitted applications, they may be subject to re-evaluation. Currently, there are still many companies that have not received approval."