Australia Market

BHP target Oz Minerals hits go on $1.7b nickel mine

Sumary of BHP target Oz Minerals hits go on $1.7b nickel mine:

  • The Adelaide-based miner said it plans to start production at the remote WA desert site near the NT and SA borders in late 2025 when it predicts the nickel market buoyed by require for electric automobile batteries will enter a sustained period of undersupply.
  • BHP chief executive Mike Henry has focused his mining giant on pursuing future-facing minerals needed to move away from fossil fuels.
  • Normal text sizeLarger text sizeVery large text size ASX-listed miner Oz Minerals has committed to construction its $1.7 billion West Musgrave copper-nickel project in WA, just six weeks after it rejected an $8.4 billion takeover bid from resources giant BHP as opportunistic.
  • Four-trailer street trains will truck West Musgrave output about 800km along largely unsealed roads to a hub at Leonora where product for export will be railed 600km south to the port of Esperance.

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