Gold Fields has entered formal agreements to acquire BHP’s Kambalda Nickel Concentrator and a package of tenements and mineralisation rights. Gold Fields will now assess long-term use of the assets, including processing for both gold and nickel, while stressing that gold production remains its core focus and that there are no changes to its operations or workforce from the acquisition. Craig Bradshaw, Gold Fields’ senior vice president of operations for Australia, called the assets highly strategic in a region where the company has operated for years.
BHP confirmed the divestment, saying Gold Fields will offer employment to people directly supporting the asset. BHP will continue to manage the concentrator through completion, including cultural heritage, regulatory and environmental obligations. Deal terms were not disclosed, and the agreements are subject to conditions including regulatory approvals.
The sale comes as BHP weighs the future of its broader Western Australia Nickel assets, temporarily suspended in July 2024 amid global nickel oversupply. BHP intends to review the remaining suspended assets by February 2027, assessing divestment, continued suspension, restart or closure. The Kambalda deal fits a wider pattern of nickel assets changing hands at cyclical lows while gold-region owners look for spare processing capacity.