BHP: Western Australia Nickel To Temporarily Suspend Operations - Quick Facts

(RTTNews) - BHP (BHP.AX, BLT.L, BBL, BHP) said the Nickel West operations and West Musgrave project will be temporarily suspended from October 2024. The company said the decision to temporarily suspend Western Australia Nickel follows oversupply in the global nickel market. BHP plans to review the decision to temporarily suspend Western Australia Nickel by February 2027. The company will invest approximately $300 million per annum following completion of a transition period to support a potential re-start of Western Australia Nickel.

In February 2024, BHP announced plans to review Western Australia Nickel and a non-cash impairment charge of approximately $3.5 billion pre-tax against the carrying value of Western Australia Nickel. As a result of the new decision, BHP expects to recognise a further non-cash impairment charge of $0.3 billion pre-tax as an exceptional item in the Group's fiscal 2024 financial statements.