BHP Group will sell its Kambalda nickel concentrator plant and associated land in Western Australia to Gold Fields Ltd. for an undisclosed price, Bloomberg Markets reported.
Gold Fields will evaluate options for the long-term use of the concentrator, which includes mining tenements and mineral rights. The Kambalda processing mill was shut in mid-2024 as BHP suspended operations across its entire Nickel West business due to falling nickel prices driven by global oversupply.
BHP said it was continuing to review the overall business and a decision on the future of other assets—including a nickel refinery, smelter, and two major mines—is expected by February. The world's biggest miner took a $2.5 billion impairment on its nickel assets in 2024 after a surge in supply from Indonesia dragged prices down.
Gold Fields has been actively seeking gold mining infrastructure and mines in the region. It is currently considering a second takeover bid for Northern Star Resources Ltd., which owns several significant gold projects near Kambalda.
Source: Bloomberg Markets · Summarized by HeadlinesBriefing