BHP Sells Loss-Making Stake in Tanzanian Nickel Project Amid Cost-Cutting Measures

Published: Jul 20, 2025 16:57

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BHP has sold its stake in a $1.4 billion nickel project in Tanzania at a loss, as the company seeks to reduce spending amid declining profits and dividends. In 2022, BHP invested $US100 million (equivalent to $153 million) to acquire a 17 percent stake in the Kabanga nickel project. The company had believed that the $US942 million development had the potential to become one of the world’s lowest-cost nickel producers, with the added advantage of operating with a lower carbon footprint compared to most other nickel mines.

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