January 21, 2020 / 2:38 AM / a month ago

Australia's Western Areas wins contracts to supply nickel to BHP unit, Jinchuan

Jan 21 (Reuters) - Australian nickel miner Western Areas on Tuesday said it has won new contracts to supply high grade concentrate from its Forrestania operations to BHP unit Nickel West China’s Jinchuan Co Ltd.

The new contract with Nickel West is for three years, starting Feb. 1, supplying 10,000 tonnes of nickel in concentrate per year, Western Areas said in a statement.

Meanwhile the new contract with Jinchuan, a nickel matte and cathode producer, is for two years with a one-year extension option, again at 10,000 tonnes of nickel in concentrate per year.

Financial terms of the contracts weren’t disclosed.

Australia is a key supplier for minerals critical for the electric vehicle (EVs) industry, but a prolonged downturn in prices amid slowing EV sales in top market China has clouded demand outlook. (Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Kenneth Maxwell)

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