First Quantum to Shut Australian Nickel Mine Temporarily in May

First Quantum Minerals will place its Ravensthorpe nickel mine in Australia on care and maintenance and cut 330 workers, citing low metal prices and high costs.

• The mine will shut on Wednesday and a care and maintenance team will be appointed to ensure site safety and preservation for a future restart, the company said in an emailed statement dated Monday
• Despite “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
• First Quantum anticipates ...