Ravensthorpe nickel mine set to re-open a third time amid soaring demand for the metal – by Kit Mochan (Australian Broadcasting Corporation – July 30, 2019)

https://www.abc.net.au/

The owners of the mothballed Ravensthorpe nickel mine in Western Australia’s south-east say they will move to re-open the site if surging demand for the metal continues.

In its latest quarterly results posted overnight, First Quantum Minerals said it was planning to restart the nickel and cobalt operation by early next year.

The Canadian mining giant memorably bought the asset off BHP Billiton in 2010 for $US340 million ($493 million), a fraction of the $US3 billion it cost to build and commission the facility.

Around 450 employees and contractors lost their jobs when it was closed for a second time by the new owners in 2017 amid a global downturn for the commodity. Years before, 1,800 people lost their jobs when BHP closed the mine in 2009.

In the report, First Quantum confirmed it has spent $14 million dollars on the facility so far this year, had recently completed drilling of its Shoemaker Levy orebody deposit, and had almost finished upgrades to its processing facilities.

For the rest of this article: https://www.abc.net.au/news/2019-07-30/shuttered-wa-nickel-mine-set-to-re-open-amid-soaring-demand/11368190

No comments yet.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.