FIRST Quantum Minerals has announced plans to suspend operations at its Ravensthorpe nickel operation in Western Australia at the start of September 2017.
It is anticipated full care and maintenance are to be in effect by early October 2017.
Chairman and chief executive, Philip Pascall, said the decision was disappointing.
“Ravensthorpe is an excellent operation with an outstanding workforce and supportive community but the continuing depressed nickel market conditions, over some years, leaves us no option,” he said.
“Over the next few weeks we will work closely with our employees and key contractors to mitigate the impact and manage carefully the staged shutdown of operations.
He said employees would be offered help in finding new jobs.
“We extend our sincere thanks to our entire workforce, local community, all levels of Government and our partners in the mining sector who have assisted Ravensthorpe since its restart in 2011.”
According to the federal Department of Industry, Innovation and Science, Australia was the fourth largest nickel producer in the world in 2015.