Talking about hedging- when petrolium companies beginning to buy :

BHP (BHP -1%) agrees to buy the Honeymoon Well project, which contains one of Australia's biggest untapped reserves of nickel, from Norilsk Nickel (OTCPK:NILSY) for an undisclosed sum.

BHP cites nickel's role in new technologies that will improve battery storage needed for renewables and electric vehicle manufacturing.

Norilsk says the deal, which marks the company's exit from Australia, will allow it to focus entirely on developing its assets in Russia.