Minmetals Resources subsidiary MMG considers restarting or selling its nickel mine
2022-12-30 13:05:38
Minmetals Resources Ltd. (1208. HK, referred to as Minmetals Resources) Australia's Minerals & Metals Group (MMG) said on Thursday that the company is in the process of restarting its suspension in Tasmania, Australia. The Avebury Nickel Research Program will also consider potential acquisitions or business plans from potential partners or buyers.
MMG said that in the last few months, potential partners and operators have taken the initiative to contact the company regarding the Avebury nickel mine, and the company will initiate a formal process to evaluate their proposals. These proposals have increased the possibility of the restart of the Avebury nickel mine.
Avebury Nickel is located near Zeehan on the west coast of Tasmania and was initially operational in June 2008. However, nickel prices fell sharply later and the mine was temporarily shut down in December of that year. MMG said that the current price of nickel is still far below the level at which Avebury Nickel was developed.
MMG said that the company is about to complete its assessment of the Avebury nickel business.
John Lamb, general manager of MMG's Rosebery and Avebury Mines, said in a statement on the company's website that after the evaluation process is over, MMG will disclose the results of the company’s assessment to potential partners or potential buyers and provide feasibility The comprehensive view and operational requirements of the Avebury nickel mine.
He also said that this process will end in the third quarter of this year, after which the MMG will decide on the fate of the Avebury nickel mine.
The Minmetals listed in Hong Kong completed the acquisition of MMG in December last year with a transaction value of 1.85 billion U.S. dollars.
MMG said that in the last few months, potential partners and operators have taken the initiative to contact the company regarding the Avebury nickel mine, and the company will initiate a formal process to evaluate their proposals. These proposals have increased the possibility of the restart of the Avebury nickel mine.
Avebury Nickel is located near Zeehan on the west coast of Tasmania and was initially operational in June 2008. However, nickel prices fell sharply later and the mine was temporarily shut down in December of that year. MMG said that the current price of nickel is still far below the level at which Avebury Nickel was developed.
MMG said that the company is about to complete its assessment of the Avebury nickel business.
John Lamb, general manager of MMG's Rosebery and Avebury Mines, said in a statement on the company's website that after the evaluation process is over, MMG will disclose the results of the company’s assessment to potential partners or potential buyers and provide feasibility The comprehensive view and operational requirements of the Avebury nickel mine.
He also said that this process will end in the third quarter of this year, after which the MMG will decide on the fate of the Avebury nickel mine.
The Minmetals listed in Hong Kong completed the acquisition of MMG in December last year with a transaction value of 1.85 billion U.S. dollars.
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