BHP - BHP Halts Nickel Mine: 'We're Not Able To Overcome Economic Challenges Driven By Oversupply' | Benzinga
BHP Group (NYSE:BHP), the world's largest miner, suspended its Western Australia nickel operations due to a significant decline in nickel prices and a global oversupply. This decision lingered since First Quantum's Ravensthorpe mine shut down in the same region in April.
"Like others in the Australian nickel sector, we have not been able to overcome the substantial economic challenges driven by a global oversupply of nickel," stated Geraldine Slattery, BHP's Australia President.
The company plans to offer redeployment opportunities to its 2,500 employees affected by this decision, providing them with roles within BHP's other operations or offering redundancy packages.
The suspension, effective in October, will halt mining and processing operations at BHP's Kwinana nickel refinery, Kalgoorlie nickel smelter, ...