BHP sells shuttered Kambalda nickel plant in Australia to Gold Fields
RHJ/iStock via Getty Images
BHP (BHP) said Tuesday it agreed to divest the Kambalda nickel concentrator plant and a package of tenements and mineralization rights in Western Australia to Gold Fields (GFI) for an undisclosed sum.
Gold Fields (GFI) is "a reliable and credible operator" that will "evaluate options for the long-term use of the concentrator and offer employment to people directly supporting the asset," BHP (BHP) said.
BHP (BHP) suspended operations across its entire Nickel West business in early 2024 as prices of the metal plunged due to oversupply in the global market, taking a $2.5B impairment on its nickel assets in 2024.
Australia has since designated nickel a critical mineral, making the industry eligible for billions of dollars in government support.
The company said it will review the suspension by February 2027, assessing options including divestment, continuing temporary suspension, restart, or closure.
Create Your Free Account to Keep Reading
Get the confidence to navigate an uncertain market with free breaking news and stock alerts.
KioskNews shows a cleaned-up reading view extracted from the publisher’s page — the original always lives on their site, not ours.