SYDNEY - Australian nickel miner Minara Resources Ltd will submit a joint bid with a Chinese firm on Wednesday for BHP Billiton's Ravensthorpe nickel operation, a source familiar with the bid told Reuters.
The offer for the idled facility in west Australia will be well below $500 million, the source said, the bottom end of a range of values which have been put on the mining and processing operation by industry analysts.
"The bid will be submitted later today (Wednesday), but will be nowhere near $500 million," said the source, declining to be identified because the bid process was confidential.
