NORTHERN SUN MINING CORP LBEFF

Ravensthorpe Update

[JohnEStromJr]

Apparently Ravensthorpe will soon have a new owner - at substantially below the $2.2 Billion it cost BHP Billiton to build.  Probably well below even the $500 million they're asking.  And once again the Chinese may be the winners.

SYDNEY -(Dow Jones)- China Metallurgical Group Corp., or MCC, hasapproached nickel miner Minara Resources Ltd. (MRE.AU) to launch ajoint bid for BHP Billiton Ltd.'s (BHP) idled Ravensthorpe nickel mine,a person familiar with the situation said this week.

Minara and MCC have emerged as strong contenders given theirtechnical experience with nickel laterite mines and the pair teaming upwould significantly lessen competitive tension in BHP's attempt to sellthe failed operation.