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Nornickel Disposes Off Honeymoon Well Nickel Project in Australia

Mining News - Published on Mon, 29 Jun 2020

Image Source: Nornickel Honeymoon Well Nickel Project
World’s largest producer of palladium and high-grade nickel and a major producer of platinum and copper Nornickel announced that through its Australian subsidiary, MPI Nickel Pty Ltd, it has entered into a definitive agreement with BHP Billiton Nickel West Pty Ltd, a wholly owned subsidiary of BHP Group Limited, to sell its Honeymoon Well Nickel Project for an undisclosed amount. The Project located in Western Australia encompasses Honeymoon Well, a greenfield nickel development, as well as Albion Downs North and Jericho Joint Ventures, both exploration projects where BHP currently owns the remaining 50% stake. The Project is the only Australian asset remaining in the Company’s portfolio.

BHP has an in-depth knowledge of the Project, which is expected to streamline the closing of the transaction.

The transaction is subject to regulatory approvals and other customary closing conditions.

Citigroup has acted as a financial advisor to Nornickel.

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Posted By : Yogender Pancholi on Mon, 29 Jun 2020
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