BHP ( $BHP Group Ltd (BHP.AU)$ ) has finally pulled the plug...
BHP ( $BHP Group Ltd (BHP.AU)$ ) has finally pulled the plug for its loss-making Nickel West operations in Western Australia after sinking US$3 billion into the venture over the past four years.
Downward spiraling nickel prices have caused a major crisis among WA-based miners and developers. In the past year alone, we have witnessed:
IGO (ASX: $IGO Ltd (IGO.AU)$ ) report a billion-dollar impairment of its Western Areas assets (acquired in December 2021 for $1.26 billion)
Panoramic Resources (ASX: $Panoramic Resources Ltd (PAN.AU)$ ) was put into administration in late 2023 amid rising costs, machine failures and bad weather
Poseidon Nickel (ASX: POS) continued to defer the restart of its Black Swan project
Downward spiraling nickel prices have caused a major crisis among WA-based miners and developers. In the past year alone, we have witnessed:
IGO (ASX: $IGO Ltd (IGO.AU)$ ) report a billion-dollar impairment of its Western Areas assets (acquired in December 2021 for $1.26 billion)
Panoramic Resources (ASX: $Panoramic Resources Ltd (PAN.AU)$ ) was put into administration in late 2023 amid rising costs, machine failures and bad weather
Poseidon Nickel (ASX: POS) continued to defer the restart of its Black Swan project
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