SMM6: recently, BHP Billiton will buy a set of nickel mining rights in Western Australia from Nornickel, the world's largest high-grade nickel producer and Russian mining giant, for an undisclosed amount. The proposed acquisition will include Nornickel's new nickel development project, the, Honeymoon Well nickel development project, and (JV), a joint venture between Albion Downs North and Jericho in the northern Goldfields region.
BHP currently owns 50 per cent of the joint venture and is the last remaining Australian asset in Norilsk's portfolio. The mine has a wedge-shaped tail deposit, which contains high-grade nickel sulphide resources and spreads sulphide resources in the form of BHP Billiton's Mt Keith and Yakabindie nickel orebodies.
Eddie Hagrid, president of BHP Billiton Nickel Western Asset, said, "Nickel remains an important input in new technologies that will improve battery storage for renewable energy and electric vehicle manufacturing." Based on our strategy of investing in the commodities we face in the future, this transaction enables us to explore and develop these potential nickel sulphide mining rights. "
BHP sold more than 75 per cent of its nickel to global battery suppliers. The combined concession package is 50 km from the Keith Mountain Nickel Mine and 100 km from the Lester Concentrator. Nornickel said BHP Billiton has an in-depth understanding of the project, which is expected to simplify the completion of the deal.
Dubovitsky, Senior Vice President of Strategy, Strategic projects, Logistics and Purchasing at Sergey said, "through the sale of Honeymoon Well Nickel, we have completed a strategic exit from our Australian business and increased our focus on Tier-1 portfolio development in Russia, and we thank BHP Billiton for being our joint venture partner in Australia and for their commitment to the speedy execution of the transaction.
It is reported that the deal is subject to regulatory approval and other transaction conditions. BHP Billiton Western Nickel is a fully integrated mineral-to-market nickel business with more than 3500 employees and contractors. All its mines, concentrators, smelters and refineries are located in Western Australia.
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