BHP CEO says Australian nickel operation has potential for high returns while Rio Tinto targets copper and lithium projects
London — Global miner BHP will hold on to the Australian nickel operations it previously put up for sale, while Rio Tinto is working on copper and lithium projects as the mining industry bets on demand for electric vehicle batteries.
Western Australia is rich in nickel sulphides, which can be chemically processed into sulphate, prompting BHP to retain its Nickel West operations after several attempts to sell the business. “There are 26 steps to be able to extract the lithium,” he said. Pricing was an issue, but Rio was becoming more comfortable with the market.
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