First Quantum to shut Ravensthorpe nickel mine – by Cecilia Jamasmie (Northern Miner – April 29, 2024)

Canadian miner First Quantum Minerals (TSX: FM) has decided to close its Ravensthorpe nickel operation in Western Australia. The ceasing of operations at the mine this week will cut around 330 jobs, Australia’s ABC News reported on Monday, citing a company statement.

“Despite our best efforts to maintain operations by transitioning to a new operating strategy that involved ceasing mining activities, processing stockpiles and altering its approach to production, the site is incurring significant current and projected losses,” First Quantum said in a separate statement.

The company said the decision to shut down the mine, with the process starting on May 1, was the best strategic move as it leaves the orebody intact for future value. Ravensthorpe is located about 500 km south-east of Perth.

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