| BHP Billiton Reckons Appraised Loss Of US$2.1 Billion For Nickel Project In Western Australia |
| = Ravensthorpe - Yabul Project, Owing To Low Operation Rate |
BHP Billiton (BHPB) announced on the 25th of November that the Ravensthorpe nickel project to produce nickel from laterite ore by HPAL process in Western Australia has to reckon the write-down of US$2.1 billion. This appraised loss has included that in the nickel project at the Yabul refinery of Queensland.
BHPB has invested US$2.2 billion in the Ravensthorpe nickel project and planned to produce by HPAL process 50,000 tons per annum of nickel intermediate from laterite ore for production of refined nickel but its start-up has delayed to a large extent. According to the nickel information released by Sumitomo Metal Mining, this project was initially scheduled to commence the production from January - March quarter of 2008 but delayed by 9 months and actually started to produce nickel intermediate from July - September quarter of 2008. Therefore, the output of nickel intermediate in 2008 is estimated to be only 2,000 tons. |
| last modified : Wed 03 Dec, 2008 [10:18] |
