Canadian miner RNC has completed the second phase of the sales process of its Beta Hunt gold and nickel mine, in Western Australia, with the selection of a preferred bidder.
RNC has granted exclusivity to the bidder, which was not named, to allow for completion of the final phase of the sale process. The company expects the transaction to close in August.
“With the expected completion of the sale of the Beta Hunt mine, we look forward to focusing on the advancement of the Dumont nickel/cobalt project, which contains the world's largest undeveloped reserves of nickel and second largest undeveloped reserves of cobalt," commented RNC president and CEO Mark Selby.
The sale process for the Beta Hunt mine, announced in March, is being led by financial advisers PCF Capital Group and Haywood Securities.