BHP stops nickel mining in Western Australia

Mining company BHP has announced that it will cease its nickel business in Australia because an oversupply on the global market has led to a fall in the price of the battery metal.

The world’s largest mining company cited the growing supply of low-cost nickel as the reason for its decision to cease operations at its Kwinana nickel refinery, Kalgoorlie nickel smelter and Mt. Keith and Leinster facilities (all in Western Australia).

The FTSE 100 mining group will also cease development of its West Musgrave project, an open-pit copper and nickel sulphide mine in Western Australia’s Musgrave province. The company has developed about a fifth of the site so far.

The decline in nickel prices has resulted in the company reporting a loss before interest, taxes, depreciation and amortisation of approximately 300