Norilsk Nickel says to sell last Australian asset to BHP Billiton - Metals & Mining - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

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 Australias BHP Billiton Ltd, Norilsk Nickel said in a statement on Friday.

Norilsk Nickel announces that through its Australian subsidiary, MPI Nickel Pty Ltd, ithas entered into adefinitive agreement with BHP Billiton Nickel West Pty Ltd, awholly owned subsidiary ofBHPGroupLimited, tosell its Honeymoon Well Nickel Project for anundisclosed 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 ofHoneymoon Well Nickel Project wecomplete the strategic exit from Australian operations and reinforce our focus onthe development ofour tier-1 asset portfolio inRussia. Weare grateful toBHP asourjoint venture partner inAustralia and appreciate their commitment toprompt execution ofthe transaction, Norilks Nickel said quoting Sergei Dubovitsky, senior vice president for strategy, strategic projects, logistics and procurement.

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19.06.2020 08:43
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