Nickel-containing stainless steels have a major role to play in the areas of environmental protection, economic growth, and social equality.
The best mines are found in British Columbia, and these have quite the impact on the industry on a global scale.
The nickel exploration will take place in South Voisey's Bay mine in central Labrador, Canada.
In the rise of the popularity of electric vehicles, the need for raw minerals such as lithium for batteries has also picked up.
Apple reportedly eyes to directly buy cobalt from miners. However, due to a shortage of cobalt production, it could be a risk.
The Ministry of Steel clarified that it simply wants a say and not direct control in dealing with raw material concerns.
A weaker dollar and the upcoming Chinese New Year continue to influence the prices of base metals.
Zinc supply is expected to be tight during the first quarter of this year, prompting differences in price and annual concentrate treatment charges.