Glencore Plc said on Wednesday it will provide funding for operations at the Koniambo nickel mine in New Caledonia until the end of February 2024.

Nickel faces huge supply glut as Indonesian output booms

The miner and trader, which has funded operations at the mine up to $9 billion since the inception, said it will work with Koniambo Nickel to explore solutions for ongoing losses, including looking at alternative sources of funding.