Gold Fields has entered into formal agreements to acquire BHP’s nickel concentrator and associated exploration properties in Kambalda, Western Australia. Gold Fields will now undertake a detailed assessment of the assets and the opportunities they may provide, including evaluating the concentrator’s long-term use for both gold and nickel processing.
Gold Fields Senior Vice President Operations, Australia Craig Bradshaw, said the assets complement Gold Fields’ existing presence in the Goldfields region. “These are highly strategic assets located in a region where we have operated and invested for many years, and we see significant potential to explore future opportunities.”
Gold Fields says it will engage collaboratively with Traditional Owners, government, local communities
and industry partners as it evaluates the potential of the assets. “We have a strong track record of building constructive relationships across the regions in which we operate, and we look forward to continuing those conversations as we evaluate the future potential of these assets. Gold production remains our core focus, and there are no changes to our operations or workforce as a result of this acquisition.”
BHP also confirmed it has entered into agreements to divest the Kambalda Nickel Concentrator (KNC) and a package of tenements and mineralisation rights to Gold Fields. It stated: “These agreements will bring KNC and associated tenements and mineralisation rights under Gold Fields ownership and support long-term outcomes for the region, local workforce, communities and the economy.”
BHP added: “Gold Fields is a reliable and credible operator, with a strong track record in safety, operational performance, workforce engagement and community contribution, and with an established presence in the region. Gold Fields will evaluate options for the long-term use of the concentrator and offer employment to people directly supporting the asset.”
BHP says it will continue to manage the asset safely, responsibly and in partnership with our workforce through to completion of the transaction, including meeting all cultural heritage, regulatory and environmental obligations.
In July 2024, BHP announced the temporary suspension of its Western Australia Nickel (WA Nickel) assets following oversupply in the global nickel market. The remainder of the WA Nickel assets remain in temporary suspension.
BHP intends to review the decision by February 2027, assessing options including divestment, continuing temporary suspension, restart or closure in consultation with relevant stakeholders.
BHP’s Vice President WA Nickel Annabelle Blom said: “Today is a positive outcome and it provides certainty for our employees, the Goldfields region and the local community. Gold Fields is a respected operator with established relationships with Traditional Owners and a strong, long-term presence in the Goldfields region. Nothing is more important than safety. BHP will continue to care for our people and manage the asset safely, responsibly and in partnership with our workforce through to completion of the transaction.”
These agreements are subject to the satisfaction of certain conditions, including regulatory approvals. BHP will work closely with Gold Fields to ensure a successful transition of ownership. Completion is expected to occur during CY2027.
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