Battery mineral prices plunge: government and industry response

The sudden collapse in battery minerals prices, particularly lithium and nickel, has attracted significant media attention in recent months, and for good reason. Lithium prices have fallen by more than 80% since January 2023, and nickel prices have dropped by almost 50% in the same timeframe. Australian producers are feeling the pinch, with several operations being suspended or curtailed, leading to calls for enhanced Federal and State Government support in the form of subsidies, royalty relief and tax reform.