Home > BHP reportedly sees Glencore offer for Nickel West assets

BHP reportedly sees Glencore offer for Nickel West assets

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BHP has reportedly seen a formal offer from Glencore for its on the market Nickel West assets.

According to a Business Spectator report, Glencore has made offer of the Australian nickel assets of between $190 and $230 million.

Speaking to Glencore they told Australian Mining that it would not comment on the matter, while BHP also gave an official line that it could not comment on the rumours.

The fate of the assets has been somewhat up in the air, with BHP attempting to sell of the assets as a single going concern for sometime due to a weak nickel price.

Earlier this year Glencore, MMG, X2 Resources, Trafigura, Sherritt International and Jinchuan Group were all slated to have opted in to the due diligence process for Nickel West, after BHP confirmed it was selling the business. 

There were even rumours of it being spun out into its own entity, however these were mooted after BHP carried out a massive demerger last month, spinning out all of its nickel assets apart from the Nickel West operations, which CEO Andrew Mackenzie stated were still under review.

 Nickel West is “neither a good fit with BHP Billiton nor with Newco," he stated.

Assets under the Nickel West banner include Mount Keith, Cliffs, and Leinster mines and concentrators, as well as the Kalgoorlie smelter, Kambalda concentrator, and Kwinana refinery.

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