BHP Billiton scraps sale of WA Nickel West business

BHP Billiton has scrapped the sale of its WA Nickel West business after failing to attract a buyer.

An undated handout photo as supplied by BHP Billiton on Friday, June 27, 2008 of operations at its Ravensthorpe nickel mine in Western Australia. BHP profits are soaring on the back of the global commodity boom including demand for nickel which used in the production of stainless steel. (AAP Image/BHP) NO ARCHIVING, EDITORIAL USE ONLY

BHP Billiton has scrapped the sale of its Western Australian Nickel West business after failing to attract a buyer.

The business was put on the market six months ago with BHP believed to have put a broad $500 million to $800 million valuation on it.

The sale had not been achieved on an acceptable basis and the company would only pursue options that maximise value for shareholders, BHP said in a statement.

The global miner did not say if it would include Nickel West in its NewCo spin-off of smaller assets due to occur in 2015, which would be the most likely fit.

Nickel West would remain in the portfolio as a non-core asset and BHP Billiton would continue to operate the business to realise its full value, the company said.

The business employs about 1,800 people and includes three mines and associated concentrators, the Kalgoorlie smelter, and the Kwinana refinery.

Originally published as BHP Billiton scraps sale of WA Nickel West business