BHP Billiton Ltd., the world's largest mining company, will complete a review of its Yabulu nickel refinery in Australia's Queensland state next week.

"We are undertaking a future options study of Yabulu which will be completed by the first half of the calendar year," Peter Ogden, a spokesman for the Melbourne-based company said by phone. A separate review of the closed Ravensthorpe nickel mine in Western Australia will be completed by year-end, he said.

BHP may be preparing to sell the Yabulu refinery and the Ravensthorpe mine together, the Australian Financial Review reported today, citing people it didn't identify. Xstrata Plc may compete with Gladstone Pacific Nickel Ltd. to buy Yabulu, the newspaper said, without citing anyone. There may be as many as 11 companies interested in the asset, it said.

In November, BHP took a $2.1 billion charge against the combined value of the Ravensthorpe and Yabulu operations.

BHP wrote down the value of Ravensthorpe to zero in January when it closed the mine because of low prices.

"They are entitled to sell their assets as they see appropriate," Western Australian state Mines and Petroleum Minister Norman Moore told reporters in Perth. "My fundamental preferred position is they reopen the mine in due course when the world economy turns. If however, they sell it to somebody else who wants to own it and operate it, that suits me fine as well."