BHP Sheds Nickel Mine For $340M To Canadian Co.

Law360, New York (December 9, 2009, 12:50 PM EST) -- Canadian mining company First Quantum Minerals Ltd. has agreed to buy BHP Billiton Ltd.'s dormant nickel operation in Western Australia for $340 million.

First Quantum plans to restart operations at the Ravensthorpe mine, about 340 miles south of Perth, after BHP halted them in January 2009 following a substantial drop in the price of nickel, First Quantum said in a statement Tuesday.

“The acquisition of the Ravensthorpe nickel operation is a major step towards First Quantum achieving its goal of becoming a globally diversified mining company,”...
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