BHP Billiton to Terminate 25-Year Presence in Indonesia
Quoting: kenyeung
What about BHP's long-proposed nickel mine on Gag Island off Papua?
Answering my own question, BHP abandoned the Gag nickel project last year.
BHP Billiton Ends Study Into Integrated Nickel Development In Eastern Indonesia
BHP Press Release
13 November 2008
BHP Billiton has decided to end a study into integrated nickel development in eastern Indonesia. The study has not been able to identify a business case which would support an investment in this opportunity.
Initially a resource at Gag Island in eastern Indonesia was being evaluated and then a second resource at Buli in Halmahera was included following a conditional agreement to form a joint venture alliance with PT Antam Tbk, a publicly listed Indonesian mining company.
The agreement with PT Antam Tbk was conditional on obtaining a Contract of Work (CoW) for the Buli resource by 31 October 2008 which has not been achieved. BHP Billiton has therefore decided to terminate the agreement with PT Antam Tbk. As a consequence of terminating the integrated study, BHP Billiton will not pursue a stand alone development at Gag Island.
BHP Billiton will continue to work closely with the Indonesian Government and regional and local government authorities in other projects in Indonesia.