OZ Minerals Receives Final Approval For Key Copper And Nickel Projects

OZ Minerals on Monday said the Western Australian state government granted the miner final regulatory approval to begin construction at its West Musgrave copper-nickel project. Miners around the world are looking to cash in on metals such as copper and nickel, which are key raw materials for electric vehicle batteries.

OZ last week rejected a A $8.34 billion (US $5.9 billion) bid from BHP Billiton Group that would have given the global miner control of West Musgrave to push it to expand its battery minerals portfolio. It said West Musgrave was on track to make a final investment decision in the second half of 2022. It said a pre-feasibility study updated in December 2020 showed an average annual production of 32,000 tonnes of copper and 26,000 tonnes of nickel over a 26-year mine life. OZ added that it will continue to assess the impact of cost inflation and the operating environment on project costs and schedules