A world nickel price of at least $6 a pound will be required before China's Minmetals will consider restarting the Avebury nickel mine in Australia, current owner OZ Minerals said on Tuesday.

"It will take a price of at $6 a pound on a sustainable long term basis to consider reopening Avebury," OZ Minerals Chief Executive Andrew Michelmore told Reuters.

Nickel currently sells around $12,200 a tonne , or $5.55 a pound.

Michelmore, the architect behind the A$1.2 billion ($883 million) sale of most OZ's mines to state-owned Minmetals -- aimed at saving OZ from liquidation by creditors -- is set to become Minmetals CEO in Australia.

Australia approved the sale as long as Minmetals maintains employment at the giant Century zinc mine, which has been operating at a loss this year, and eventually reopens the Avebury nickel mine, which was closed in December because of low metals prices. ($1=1.359 Australian Dollar)