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China Metallurgical Group to bid for BHP's nickel mine

Nov. 16, 2009 (China Knowledge) - China Metallurgical Group, the parent of China Metallurgical Co Ltd<601618><1618>, will bid for BHP Billiton's failed Ravensthorpe nickel operation in Western Australia State, the Wall Street Journal reported on Friday, citing sources with knowledge of the matter as saying.

Other bidders include Australia's Minara Resources Ltd and Poseidon Nickel Ltd. All bids are expected to be submitted by Nov. 25, the deadline for the bid, according to the sources. 

BHP declined to comment on the potential bidders, but said the mine continues to attract considerable interest.

BHP started the US$2.1 billion mine last year, but closed it in January, because it struggled to achieve the production needed to turn a profit. 

Earlier this month, another potential Chinese bidder, Jinchuan Group Ltd, the largest integrated nonferrous metallurgical and chemical engineering enterprise in Asia, reportedly withdrew from the bidding process.

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