BHP's Nickel West closure could mark end of Australian nickel industry, analyst says

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Nickel West,Job Cuts,Wa News

The impact of the closure of BHP's Nickel West operations will be far and wide and 'almost signals the end of the Australian nickel industry', a prominent mining analyst says.

An independent mining analyst thinks the decision to close BHP's Nickel West operation could be the 'death knell' for the Australian industry.WA's Mines Minister believes the outlook for the commodity looks "quite good" in the medium to long term.

Perth-based mining analyst Tim Treadgold said he could not see the nickel industry recovering from such a big player bailing out."It has a degree of inevitability to it ... and it's just such a shame for all those people are going to lose their jobs.""People say that the Indonesian nickel is dirty nickel, that doesn't seem to worry the electric car makers," he said.

Coolgardie shire president Malcolm Cullen said he did not think that would be "anywhere near enough". "Rather than redeployment to other places, we'd certainly hope to keep people in our community," he told ABC Radio Perth. "BHP don't have a capital problem they have a cash flow issue here, and a very significant one. They've tried to work it as best they can.

"It's just that at the moment with the prices the way it is, companies like BHP obviously have to make the decision that they took yesterday.

 

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