Glencore Xstrata: Billiton’s Australian nickel assets eyed

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Glencore Xstrata would study the terms of sale of BHP Billiton’s Australian nickel assets, the commodity trader and metals producer run by billionaire Ivan Glasenberg said yesterday. “It’s on the market,” Glasenberg said. “It’s something that would make sense, but it is an asset that’s had its problems.” BHP Billiton has booked impairment charges on the Nickel West assets of almost $1.6 billion (R17.3bn) over the past two financial years, after prices for the metal fell. Glencore’s Minara unit controls the Murrin Murrin nickel mining and refining project. “It’s something that would make sense with Minara being close by,” Glasenberg said. “We do buy certain products from them.” Glencore took a $454 million impairment charge on the Murrin Murrin asset in Western Australia. – Bloomberg


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