Ravensthorpe nickel mine to cut 30 per cent of workforce as mining suspended amid weaker metal prices – by Jarrod Lucas (Australian Broadcasting Corporation – January 15, 2024)


The owner of the Ravensthorpe nickel operation on Western Australia’s south coast says it will suspend mining and cut 30 per cent of its 420-strong workforce. Canada’s First Quantum Minerals has today announced the changes in response to weaker metal prices — the second casualty in as many weeks for WA’s once-booming nickel industry.

Nickel is a key ingredient in stainless steel and lithium-ion batteries, but prices have fallen more than 40 per cent in the past year.

In a statement, First Quantum Minerals said it will continue to produce nickel from ore stockpiles, and the suspension of mining will ensure Ravensthorpe remains viable in the long-term.

The stockpiles are anticipated to take the next 18 months to two years to process before mining resumes at the Hale Bopp and Halleys ore bodies at Ravensthorpe. It is expected that 125 workers will lose their jobs. Ravensthorpe was last placed on care and maintenance in 2017, but restarted mining again in 2020.

For the rest of this article: https://www.abc.net.au/news/2024-01-15/ravensthorpe-nickel-mine-to-cut-30-per-cent-of-workforce-as-mini/103322050?utm_campaign=abc_news_web&utm_content=twitter&utm_medium=content_shared&utm_source=abc_news_web