BHP Billiton is understood to have made a substantial copper discovery in the remote West Australian outback, in a move that could finally help open up the potential of the West Musgrave region.
Industry sources told The Australian that recent drilling by BHP at the Succoth prospect had returned broad intersections of copper mineralisation at relatively high grades.
BHP Billiton (ASX, NYSE: BHP)(LON: BLT), the world’s biggest mining company, confirmed Tuesday it has discovered a significant high-grade nickel deposit, named Venus, which could “reshape the future profitability and direction” of its struggling Nickel West business.
http://www.mining.com/bhp-hits-a-4-billion-nickel-jackpot-37502/
BHP Billiton has cranked up the potential for a $US4 billion ($3.89bn) spin-off of its ailing nickel division by making a big high-grade nickel discovery near its Perseverance mine at Leinster, 375km north of Kalgoorlie in Western Australia.
BHP Billiton Ltd. (BHP), the world’s biggest mining company, said the high Australian dollar and weak prices are hurting its local alumina and nickel operations, spurring speculation of possible writedowns or asset sales.
As more analysts added their voice to the chatter about BHP Billiton divestments, it appears the Big Australian’s WA nickel assets are safe for now.
http://au.news.yahoo.com/thewest/a/-/breaking/15634923/bhp-nickel-assets-safe/
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