China Metallurgical Group Bidding for Australian Nickel Mine

BEIJING, Nov. 3 -- China Metallurgical Group Corporation (MCC) becomes one of the front-runners to buy the Ravensthorpe nickel mine in Western Australia, which is under the control of the world-known mining giant BHP Billiton.

    The other hopeful bidder is Minara Resources Limited, Australia's second largest nickel producer, reported Australian Financial Review on its Web site.

    Considering quality issues, Jinchuan Nonferrous Metals Corporation (JNMC), China's largest nickel manufacturer, declined Minara Resources' proposal to jointly bid for Ravensthorpe last month.

    Many other foreign companies are contacting with Minara Resources, in hope of participating in the bidding. The final winner will be revealed at the end of November.

    Earlier, Colin Barnett, premier of Western Australia, hoped that BHP Billiton could be more realistic in the sale of Ravensthorpe. A spokesperson of the mining giant confirms that there are several bidders.

    However, he is unwilling to disclose their names, saying that his company is still weighing whether to sell, close down, or reopen the nickel mine and will not take any action before the prospect evaluation of Ravensthorpe is completed.

    (Source: www.163.com)