Listed Mining Companies
JOHANNESBURG (miningweekly.com) – Australian nickel producer Minara Resources on Monday confirmed that it was in negotiations with diversified giant BHP Billiton regarding the sale of its Ravensthorpe project, in Western Australia.
The nickel miner reported that as part of its due diligence process, it was exploring various funding options.
“There is no certainty of the outcome of Minara’s participation in the sale process,” the company reported.
During January this year, BHP Billiton started ramp down and indefinite suspension of the Ravensthorpe nickel operation. The decision was taken as a result of the diminished prospects for profitability of Ravensthorpe during the economic downturn, significant and continuing deterioration in the outlook for the nickel market, and the projected level of capital expenditure required in order to achieve and sustain projected production volumes at the operation.
