China’s recent expansion of rare earth export controls on October 9 has reignited global interest in other critical metals under its influence, drawing investors’ attention back to Australia’s struggling nickel industry. 

Following years of declining output and tough competition from Indonesia’s China-backed producers, Australian miners are seeking ways to revive the sector. Mining giant BHP is exploring potential buyers for its Nickel West operations, while private equity firms and local miners show interest in acquiring parts of the business. 

At the same time, Japan’s Sumitomo Metal Mining and Mitsubishi Corporation have formed a joint venture to secure supply independence by investing in Ardea Resources’ Goongarrie nickel-cobalt project in Western Australia, which is now undergoing its final feasibility study.