Business
Deal puts billion-dollar value on BHP’s nightmare nickel mine – The Australian Financial Review
South Korean steel and battery material giant POSCO has paid $310 million for a 30 per cent stake in a nickel mine that still rankles BHP shareholders.
The precursor would most likely take the form of nickel sulphate.
First Quantum will retain a 70 per cent share in Ravensthorpe and continue to operate the mine.
The deal includes a long-term offtake agreement that will supply POSCO with 7500 tonnes of nickel in mixed nickel-cobalt hydroxide precipitate a year beginning in 2024.
The balance of Ravensthorpes production will be marketed by First Quantum, which has been shopping around a stake in the mine through Standard Chartered since last year….
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