BHP to Announce Decision on Western Australian Nickel Operations by August

BHP is expected to provide an update on the future of its Western Australian nickel operations by August as it continues to review its plans for the assets while focusing on preserving cash. “In Western Australia, we expect to announce a decision on the future of our nickel business in the coming months, where efforts to optimise operations and preserve value are underway,” BHP CEO Mike Henry said. It comes after the company placed the assets under review in February amid a sharp fall in nickel prices due to an influx in lower-cost supply from Indonesia. This influences prospects for nickel production not just in Australia, but also worldwide since about half of global production is estimated to be profit-losing....