Jinchuan bidding for Ravensthorpe mine of BHPB -Report
Wednesday, 14 Oct 2009
Dow Jones citing a person familiar with the matter reported that Jinchuan Group, China's largest nickel producer by output, is a bidder for Anglo Australian miner BHP Billiton Ltd’s Ravensthorpe nickel mine in Western Australia.
The person declined to provide further details on the bid, citing complications and sensitiveness involved.
As per report, BHP has already closed the first round of bidding for its idled Ravensthorpe nickel mine in Western Australia.
BHP has been conducting a review since mid year of the nickel laterite mine, which cost the company USD 2.1 billion to build but was closed a few months after it was commissioned last year. The mine struggled with operational troubles, as have many other laterite projects that have high ore processing costs and have remained below expected capacity.
Previous reports have named Australian nickel miner Minara Resources Ltd, which already operates a laterite mine in Australia, as another potential bidder, in addition to the Jinchuan Group. Australian mining magnate Mr Clive Palmer, who in July bought BHP's Yabulu nickel refinery, has also been named in the Australian press as a potential bidder.
