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BHP Group Ltd., the world’s largest miner, has stood down around a quarter of the workers constructing its West Musgrave nickel and copper project in Western Australia, according to a report from theThe workforce at the A$1.7 billion project has been cut from about 400 to 300 people, the AFR reported, without saying where it got the information. A company spokesman said the exit of some workers didn’t mean the entire project – acquired from OZ Minerals Ltd.
In February, BHP took a $2.5 billion impairment on the value of its Australian nickel assets after a surge in supply of the battery metal dragged down prices. The miner also said it would shutter its Kambalda concentrator, which processes ore, and could mothball its other Australian nickel assets after a review.
The price of nickel — a metal traditionally used to strengthen steel that’s become key to the energy transition due to its use in electrification and batteries — has dropped 40% since the start of 2023 on the London Metal Exchange.As long as all interested parties join forces, Peru can take advantage of its ideal conditions to boost and develop the local mining industry, said Adolfo Heeren.
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