BHP Billiton Likely to Sell Nickel Units

Bloomberg reported that the world’s largest mining company, BHP Billiton Ltd., said that the weak prices and the high Australian dollar are affecting their local nickel operations and many have speculated possible writedowns or even asset sales.

As quoted in the market news:

BHP is a likely seller of its Nickel West and aluminum businesses,” Lyndon Fagan, a Sydney-based resources analyst with JPMorgan Chase & Co., said in an e-mail after the Melbourne-based company made the comments today in its second- quarter production report.

Click here to read the full Bloomberg report.