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Jinchuan Group and Glencore Front-runners to Buy BHP’s Nickel West
Aug. 26, 2014 10:15AM PST
Base Metals Investing The Sydney Morning Herald reported today that China’s Jinchuan Group (HKG:2362) and Glencore Plc (LSE:GLEN) are advancing talks with BHP Billiton (NYSE:BHP) regarding that company’s Nickel West unit. Nickel West would garner a hefty rehabilitation bill, but Jinchuan and Glencore would be able and willing to pay those costs, according to the Herald.
The Sydney Morning Herald reported today that China’s Jinchuan Group (HKG:2362) and Glencore Plc (LSE:GLEN) are advancing talks with BHP Billiton (NYSE:BHP) regarding that company’s Nickel West unit. Nickel West would garner a hefty rehabilitation bill, but Jinchuan and Glencore would be able and willing to pay those costs, according to the Herald.
As quoted in the publication:
BHP has also been mulling splitting the sale of its Nickel West unit, or selling part of it and closing the rest. But it must provide a clean exit for BHP.
Jinchuan is understood to be most interested in snaffling the smelter, while the prize for Glencore would be the refinery.
No firm timetable has been drawn up for bidding but BHP has narrowed the field to Jinchuan and Glencore.