BHP Billiton Limited
(ASX:BHP) has confirmed it will sell nickel and copper acreage just days after addressing speculation about divesting underperforming assets.
Cassini Resources
(ASX:CZI) will take control of the acreage in West Musgrave which is located between Western Australia and Alice Springs and includes the Nebo-Babel sulphide deposits.
The cost will include $250,000 in cash, a 2 per cent smelter royalty and a production milestone payment due 12 months after production starts.
BHP reported a net profit of $9.93 billion in the 2013 financial year.
