Copying and distributing are prohibited without permission of the publisher

Palmer agrees to buy BHP's Yabulu nickel-cobalt plant

July 03, 2009 - 04:43 GMT Location: Singapore

KEYWORDS: Clive Palmer , BHP Billiton , Yabulu , nickel , cobalt , Australia

Mining magnate and billionaire Clive Palmer has agreed to buy BHP Billiton's Yabulu nickel and cobalt processing plant in Queensland, Australia.

"The terms of the sale are confidential, however both BHP Billiton and Professor Palmer have sought to provide that, at sale completion, working capital and access to funds are sufficient to enable the business to commence as a going concern under Professor Palmer's ownership," said BHP. The sale of Yabulu to "companies wholly owned by" Palmer, is expected to be finalised by July 31, BHP added. The...

All material subject to strictly enforced copyright laws. © Euromoney Institutional Investor PLC.

Please log in using your online subscriber details.
Your username will be your registered email address with Metal Bulletin.

If you aren't a subscriber yet, feel free to take a seven day free trial, or subscribe using the instructions below.

A standard subscription include one year's worth of news and prices. You can also upgrade to the full archive and benefit from more than 13 years of intelligence. Start your subscription today.

Free trial

Taking a free trial will give you open access to Metal Bulletin online news, prices, archived content and email alert service for the next seven days. Start your free trial today.

Free trial

Already have an account?

Stainless & Special Steels

May 17, 2012 00:40 US Lawmakers object to EPA’s ferroalloy rules
May 16, 2012 08:04 Chinese molybdenum conc prices hit three-year low
May 16, 2012 04:00 China Molybdenum gets approval for IPO in Shanghai
May 16, 2012 00:47 NAS awarded FTZ status at Kentucky facility
May 16, 2012 00:26 US DLA offers 700 tons of low-carbon ferrochrome

Minor & Precious Metals

May 16, 2012 16:59 MB NON-FERROUS PRICE CHANGES
May 16, 2012 14:11 Glencore signs MoU with Nigeria to study investments up to $1bn
May 16, 2012 09:10 RESOURCE NATIONALISM: Argentina’s government gives mining companies 15 days to present plan to replace imports
May 16, 2012 06:03 Freeport-McMoran expects China demand to boost copper projects
May 16, 2012 05:37 Freeport working to return Grasberg to normal

Comment & analysis

COMMENT: Keep calm and carry on?

The decision of the Indonesian government last week to uphold the ore export ban and taxes from May 6 has failed to calm the nervous market. So far, both producers and buyers have displayed an impressive tolerance level to the export uncertainty. But how long will their patience last?
TREVOR TARRING: The baby and the bathwater

“Don’t throw out the baby with the bathwater” is a well-known adage.
MAN OF STEEL: The only way is down

Bleak news wherever we look. We see examples of low prices for all steel products being achieved in China, India, Brazil, the USA and Europe. The Russian market is weak and the CIS mills are now eyeing all export markets to get rid of serious tonnage.