The comprehensive collapse of the nickel market in Australia has well0and-truly bottomed out the mining industry, with Federal Resources Minister Madeleine King saying the challenges ahead “cannot be addressed overnight”.

BHP have written of their WA-based nickel arm in the wake of the price collapse, putting thousands of local jobs under risk.

Ms King told Gary Adshead on 6PR Mornings The government understood the scope of the issue, but stopped short of saying they would prop up the industry.

“I’m keen to be very clear with industry: we can’t cash grant them out of this problem,” Ms King said.

Press PLAY to hear more on the nickel collapse