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BHP (NYSE:BHP) has reduce ~100 employees developing its West Musgrave nickel and copper undertaking in Western Australia, Australian Monetary Evaluation reported Sunday, within the newest transfer by a serious mining firm to cut back prices in an surroundings of weak commodity costs.
The workforce on the A$1.7B undertaking was reduce from ~400 to 300, however the paring of some employees didn’t imply the complete undertaking, acquired from OZ Minerals final yr, has been canceled, in accordance with the AFR report.
BHP (BHP) already stated it might take a A$2.5B impairment cost associated to its struggling Western Australia nickel enterprise.
The miner believes 30% of Australian nickel mines have been closed with one other 30% additionally below strain due to low costs, outgoing CFO David Lamont advised shareholders.
The value of nickel has plunged 40% on the London Metallic Change for the reason that begin of 2023.
