（November 12, 2014）BHP Billiton has given up trying to sell its struggling Nickel West business, declaring that an acceptable bid could not be found.

BHP began a formal sale process for the assets, which are mostly located in the Western Australian goldfields near Kalgoorlie, in May, but said on Wednesday that an offer that properly valued the business had not been received.

That is despite Glencore and other suitors running the ruler over the project.

"The company will only pursue options that maximise value for shareholders," the company said in a statement this morning.

HP indicated that it would not rush to shut down the struggling business but would rather "operate the business to realise it's full potential".

The shelving of the sale comes at a time when BHP is trying to rid itself of its smaller, more challenged assets through a demerger, so that its best assets can improve unhindered.

That vision will be slightly compromised by retaining Nickel West, which despite the recent improvement in nickel prices, is considered to be a less-than-world-class business.

Nickel West asset president Paul Harvey said the asset would remain in BHP's portfolio asset non-core asset.

"The focus of Nickel West will remain on delivering safe and efficient production whilst pursuing every opportunity to maximise productivity, to reduce operating costs and to increase free cash flow," he said.

Shelving the sale could hit the share prices of neighbouring nickel miners like Western Areas and Sirius Resources, whose stock price had been elevated by perceptions that they too could be bought by the eventual buyer of Nickel West to help fix sone of Nickel West's weaknesses.

• [Editor:Juan]