Lunnon Metals Flags BHP-Gold Fields Kambalda Nickel Concentrator Deal

Lunnon Metals Ltd. (LM8) said Wednesday it noted BHP Group's agreement to sell the Kambalda Nickel Concentrator to Gold Fields Ltd. (GFI), a transaction expected to complete in 2027. The Australian miner said it will investigate potential opportunities arising from the proposed change in ownership of the concentrator. Lunnon owns the Foster-Baker project, which holds a Mineral Resource of more than 3 million tonnes at 3.0% nickel, containing over 95,000 tonnes of nickel metal. The Baker nickel sulphide deposit is subject to an underground mining proposal with current regulatory approval. Gold Fields is Lunnon Metals' largest shareholder, with a 29.61% stake held through wholly owned subsidiary St Ives Gold Mining Co. Pty. On Tuesday, Lunnon Metals closed 11.67% higher at AUD 0.3350 on the Australian Securities Exchange. Gold Fields closed 1.34% higher at $36.17 on the New York Stock Exchange.