I don't see a connection between the Nickel Sulphide activities...

I don't see a connection between the Nickel Sulphide activities of BHP and the laterite Ravensthorpe operation. Ravensthorpe was a standalone entity in WA that produced concentrate for the smelter in Townsville (now sold). The Sulphide ores are smelted at Kambalda and shipped to Kwinana for refining. Chemically, nickel enriched laterites are completely different from nickel sulphides and so far as I am aware there are no synergies between the two businesses (Kambalda and Ravensthorpe).

Question is whether the remaining sulphide operations have sufficiently long life and size to meet BHP's business criteria. May well be that a new sulphide province such as Colurabbie is needed to bulk this division up and retain it within the BHP fold. If so, good for FCN. If not, still good for FCN but will require another business partner - several Sulphide specialists in the area spring to mind - and let's not forget Xstrata who hold 16% of FCN (if my memory serves me well).

And Saxby a nice bonus.