Norilsk Nickel says to sell last Australian asset to BHP Billiton

MOSCOW, Jun 19 (PRIME) -- Russian metals giant Norilsk Nickel has signed an agreement to sell its last asset in Australia, the Honeymoon Well nickel project, to Australia’s BHP Billiton Ltd, Norilsk Nickel said in a statement on Friday.

“Norilsk Nickel … announces 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 company said.

The project includes the Honeymoon Well mine and two joint ventures with BHP, Albion Downs North and Jericho, in which the Australian company owns 50%.

The companies will close the deal after they receive necessary regulatory approvals and meet other customary closing conditions.

“With the sale of Honeymoon Well Nickel Project we complete the strategic exit from Australian operations and reinforce our focus on the development of our tier-1 asset portfolio in Russia. We are grateful to BHP as our joint venture partner in Australia and appreciate their commitment to prompt execution of the transaction,” Norilks Nickel said quoting Sergei Dubovitsky, senior vice president for strategy, strategic projects, logistics and procurement.

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