BHP sells closed Australian nickel plant to Gold Fields.

BHP Group will sell its Kambalda nickel concentrator and associated land in Western Australia to Gold Fields Limited for an undisclosed sum. BHP said in a statement on Wednesday that Gold Fields will "assess the long-term use of the concentrator." The transaction includes mining leases and mineral rights. Affected by a global nickel supply glut and collapsing prices, BHP shut down the Kambalda concentrator in mid-2024 and simultaneously suspended all of its Western Australian nickel operations. BHP said it is still evaluating its overall nickel business; decisions on the disposal of remaining assets, including the nickel refinery, smelter and two large mines, are expected to be made by February 2027. Dragged down by Indonesia's massive increase in production of the battery metal, which pushed nickel prices lower, the world's largest mining group recorded a $2.5 billion impairment charge on its nickel assets in 2024. Gold Fields has been scouting the region for gold mining infrastructure and mine assets. The company is currently considering a second takeover offer for Northern Star Resources, which holds several large gold projects near Kambalda.