Mining firm bulks up nickel business

Melbourne: BHP Billiton, the world’s biggest mining company, plans to spend $1.4 billion expanding its Australian nickel business after surging Chinese demand for the stainless steel ingredient caused prices to soar.

The company's nickel output will rise 53% making it the world's third-largest supplier when it finishes expanding the Yabulu refinery and developing the Ravensthorpe mine, BHP Billiton said.