Resources giant BHP will shut its Nickel West operations in Western Australia this October, putting more than 3000 jobs at risk after a global crash in nickel prices.
Resources giant BHP will shut down its Nickel West operations in Western Australia this October, putting more than 3000 jobs at risk after a global crash in nickel prices.
The $221 billion ASX-listed miner said on Thursday it would temporarily suspend mining and processing at the Kwinana nickel refinery, Kalgoorlie nickel smelter, Mt Keith and Leinster operations and its development of West Musgrave.Thousands of employees and contractors are expected to be affected as the miner moves to transition its Nickel West and West Musgrave project operations into care and maintenance as early as this month.
“The transition period will commence from July 2024. Operations will be suspended in October 2024, and handover activities for temporary suspension will be completed by December 2024,” BHP said.The miner said it would offer Western Australia Nickel frontline employees another role within BHP or the choice of taking a redundancy. It will also establish a $20 million community fund to support local communities during the temporary suspension.
“The decision to temporarily suspend Western Australia Nickel follows oversupply in the global nickel market. Forward consensus nickel prices over the next half of the decade have fallen sharply reflecting strong growth of alternative low-cost nickel supply,” the company said in a statement to the ASX on Thursday.“We understand this is a challenging period for the Western Australia Nickel team and surrounding communities,” BHP’s Australia president Geraldine Slattery said.
“Every frontline employee will be offered another role within BHP, and best endeavours will also be made to identify redeployment opportunities for other employees engaged in day-to-day operations of Western Australia Nickel.”
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