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As Russians exit WA, BHP buys tenement package from Norilsk Nickel

Author : Pankaj Singh | Published Date : 2020-06-22 

Melbourne based mining major BHP has reportedly announced that it has purchased a tenement package from Norilsk Nickel, a Russian company, thereby enhancing its nickel footprint in the Western Australian region. As per terms of the deal, BHP gains control over the Honeymoon Well project in addition to Jericho and Albion Downs North exploration projects where it earlier owned a 50 per cent share alongside MPI Nickel Pty. Ltd.

According to Eddy Haegel, the Asset President of BHP Nickel West, nickel continues to be a significant input for new technologies that help to improve the battery storage for renewables and production of electric vehicles. He further cites the deal to be consistent with BHP’s strategy of investing in future facing commodities and provides access to the exploration and development of potential nickel sulphide tenements.

As per sources, the new tenement package is situated in Western Australia’s northern Goldfields and is just 50 km away from BHP’s Mt. Keith nickel mine, and a mere 100 km away from the company’s Leinster nickel concentrator. In addition, BHP Nickel West has reportedly signed off-take agreements with IGO Limited and Western Areas, nickel producers headquartered in WA.

Sergey Dubovitsky, the Senior Vice-President at Norilsk Nickel, has stated that the sale of the tenement package and the company’s subsequent exit from Australia formed part of its strategy to completely focus on the development of first-class assets in Russia. He has also thanked BHP for extending its cooperation in the structuring of Australian joint ventures.

For the record, BHP Nickel West is reportedly planning to commission work at its new nickel sulphate plant linked to its existing processing facilities at Kwinana located on the southern outskirts of Perth. The initial stage of the plant is equipped to produce around 100,000 tons a year and is expected to reach a production capacity of 300,000 tons a year via staged expansions.

 

Source Credits:

https://www.afr.com/companies/mining/bhp-grows-nickel-footprint-as-russians-exit-wa-20200619-p554ci

About Author

Pankaj Singh

Pankaj Singh

Endowed with a post graduate degree in management and finance, Pankaj Singh has been a part of the online content domain for quite a while. Having worked previously as a U.K. insurance underwriter for two years, he now writes articles for fractovia.org and other online portals. He can be contacted at- [email protected] | https://twitter.com/PankajSingh2605

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