Canadians Go Christmas Shopping in Australia, Find a Bargain, an Industrial Info News Alert

From the Wires

Dec. 23, 2009 05:15 AM

PERTH, AUSTRALIA -- (Marketwire) -- 12/23/09 -- Researched by Industrial Info Resources (Sugar Land, Texas) -- First Quantum Minerals Limited (TSX:FM) (Vancouver, British Columbia) has purchased the (slightly used) Ravensthorpe Nickel Operation from BHP Billiton (NYSE:BHP) (BHPB) (Melbourne, Australia), at what appears to be a bargain price. The operation was officially opened in May 2008, but was promptly closed in February 2009 at the cost of some 1,450 jobs. At the time, BHPB cited the global economic downturn and poor nickel prices as the reason for the closure, however some analysts believe it was more to do with the 'operational problems' experienced with the beneficiation of the low-grade ore.

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Industrial Info Resources (IIR) is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy related markets. For more than 26 years, Industrial Info has provided plant and project opportunity databases, market forecasts, high resolution maps, and daily industry news. For more information send inquiries to metalsandmineralsgroup@industrialinfo.com or visit us at www.industrialinfo.com.

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Joe Govreau
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Published Dec. 23, 2009— Reads 162
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