BHP (ASX:BHP,NYSE:BHP,LSE:BHP) agreed to sell its Kambalda Nickel Concentrator and a package of surrounding tenements to South Africa’s Gold Fields (NYSE:GFI), carving off a key asset from its suspended nickel operations in Western Australia.The transaction transfers ownership of the Kambalda processing facility and associated mineralization rights to Gold Fields, with completion targeted for calendar year 2027, subject to regulatory approvals.While the agreement hands Gold Fields control of the Kambalda facility, the remainder of BHP’s Western Australia Nickel operations remains suspended. BHP plans to review the rest of the business by February 2027 to evaluate options that include divestment, continued suspension, operational restart, or permanent closure.Meanwhile, Gold Fields will assess long-term operational uses for the concentrator and offer employment to personnel directly supporting the asset. BHP will continue to manage the facility until the transaction completes.“Today is a positive outcome and it provides certainty for our employees, the Goldfields region and the local community,” BHP Vice President for WA Nickel Annabelle Blom said in a statement. “Gold Fields is a respected operator with established relationships with Traditional Owners and a strong, long-term presence in the Goldfields region.”The agreement comes shortly after Gold Fields suffered a major rejection in Australia. On September 28, Australia’s largest gold producer, Northern Star Resources (ASX:NST,OTCPL:NESRF), unanimously turned down an unsolicited US$27.09 billion cash-and-stock takeover proposal from Gold Fields.Northern Star’s board rejected the offer, stating it undervalued the company ahead of key operational milestones, including the ramp-up of its Fimiston Mill, while exposing its investors to Gold Fields equity risks.“Gold Fields has sought to acquire one of the world’s premier gold portfolios at a price that falls well short of what the Board considers to be its fundamental value and at a highly opportunistic time,” Northern Star Chairman Michael Chaney said in a statement rejecting the proposal.Don't forget to follow us @INN_Resource for real-time updates!Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
(RTTNews) - Gold prices have shown a lack of direction over the course of the trading session on Thursday, bouncing back and forth across the unchanged line following the significant pullback seen in the previous session.
European antitrust regulators are reportedly slated to face an ultimatum from Anglo American (LSE:AAL,OTCQX:AAUKF) to approve the US$500 million sale of its Brazilian nickel division to Hong Kong's MMG (OTCPL:MMLTF), or watch the operation shut down entirely.According to a Reuters report, Anglo American executives are fighting to salvage a transaction that has been stalled by the European Commission's Phase II regulatory review, which centers on fears that MMG could redirect critical nickel supply away from European stainless steel producers.The standoff highlights the EU’s growing anxiety over its reliance on China for battery and industrial metals. However, Anglo American intends to argue that blocking the deal will not protect European supply chains, but merely force the asset into retirement.Ruben Fernandes, Anglo American’s chief CEO in Brazil, reportedly plans to tell the commission that the company has no backup plan, having committed to exiting the nickel business more than two years ago."The protracted regulatory review has already caused considerable uncertainty locally, but the consequences of the EC prohibiting the sale of the business would be very troubling," Fernandes will say, according to prepared remarks obtained by Reuters."Recognising that MMG is the only credible buyer that we identified, and given our commitment to exit our nickel business more than two years ago, we will have little option but to head towards 'care and maintenance' as the pathway to closure in the event that the Commission prohibits the sale to MMG."The contested transaction, originally struck in February 2025, covers the Barro Alto and Codemin ferronickel operations which jointly produced 39,400 metric tons of nickel in 2024, as well as two development projects, Jacaré and Morro Sem Boné. The US$500 million structure is anchored by a US$350 million upfront cash payment, alongside a US$100 million price-linked earnout and a US$50 million contingency tied to future project investments.With Troy Hey, MMG's executive general manager of corporate relations, joining the defense in Brussels this week, the two miners have pushed the deal’s long stop date to October 31, 2026, leaving the immediate fate of the Brazilian mines entirely in the hands of the European Commission.Don't forget to follow us @INN_Resource for real-time updates!Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
A study of analyst recommendations at the major brokerages shows that POSCO Holdings Inc (Symbol: PKX) is the #46 broker analyst pick, on average, out of the 50 stocks making up the Metals Channel Global Mining Titans Index, according to Metals Channel. The Metals Channel Globa
(RTTNews) - Gold prices held steady on Thursday, even as a broad global bond sell-off and surging oil prices revived inflation and interest-rate worries.
In trading on Wednesday, shares of Gold Fields Ltd. (Symbol: GFI) entered into oversold territory, changing hands as low as $34.53 per share. We define oversold territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum
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In trading on Wednesday, shares of Perpetua Resources Corp (Symbol: PPTA) entered into oversold territory, changing hands as low as $19.3904 per share. We define oversold territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measur
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(RTTNews) - Crude oil prices have shown a significant downturn over the course of the trading day on Wednesday, pulling back sharply after surging early in the session.
(RTTNews) - Following the advance seen during Tuesday's session, the price of gold has shown a notable move back to the downside during trading on Wednesday.
A study of analyst recommendations at the major brokerages shows that B2Gold Corp (Symbol: BTG) is the #38 broker analyst pick, on average, out of the 50 stocks making up the Metals Channel Global Mining Titans Index, according to Metals Channel. The Metals Channel Global Minin
(RTTNews) - A report released by the Energy Information Administration on Wednesday showed an unexpected decrease in U.S. crude oil inventories in the week ended October 2nd.
(RTTNews) - Gold prices fell toward $4,100 an ounce on Wednesday as oil prices climbed and yields rebounded on fears Iran is stepping up attacks on tankers in the Strait of Hormuz.
(RTTNews) - Oil prices were up nearly 1 percent on Wednesday as traders weighed supply risks following more attacks on vessels in the Persian Gulf region.
(RTTNews) - After extending their recent slump early in the session, the price of crude oil has regained ground over the course of the trading day on Tuesday.