West Musgrave, Australia / Nickel and copper
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West Musgrave is a large-scale, BHP-owned, nickel and copper development project located in Western Australia, approximately 1,300km north-east of Perth.
Development
Nickel and copper
BHP
Australia
Royalty rate and type
2% NSR
Balance sheet classification
Royalty Intangible
Key facts
24-year
Mine life and further extension potential
2026
BHP stated it would consider divesting of the project and commenced a process for the potential sale
Ecora owns a 2.0% NSR royalty over the West Musgrave project. Average annual production from West Musgrave is expected to be approximately 35Kt of nickel and 41Kt of copper over the first five years of production and 27Kt of nickel and 33Kt of copper thereafter. Total reserves are estimated at 270Mt at 0.31% nickel and 0.34% copper grades with an expected mine life of over 24 years (as per the OZ Minerals 2022 Mineral Resource and Ore Reserve Statement for West Musgrave).
The previous operator, OZ Minerals, commenced construction on the project in 2022, BHP subsequently suspended operations during 2024 pending a review by February 2027. During 2025, BHP stated it would consider divesting the project and commenced a process for the potential sale of West Musgrave. A sale could result in the acceleration of the timeline to a construction restart and first