NICKEL: First Quantum to put Ravensthorpe on care and maintenance

[caption id="attachment_1003719508" align="aligncenter" width="467"] One of two crusher stations at Ravensthorpe, this one for limonite. (Credit: First Quantum Minerals)[/caption] AUSTRALIA – Toronto-based First Quantum Minerals has decided to puts its Ravensthorpe nickel mine in Western Australia on care and maintenance at the end of this month. Low nickel prices are to blame. The company expects to spend US$10 million to place the operation on care and maintenance, followed by a further US$5 million per year for maintenance of the property. Reopening, depending on the price of nickel, would cost a further US$10 million. First Quantum acquired the decommissioned Ravensthorpe property from BHP in 2010. Commercial production was reached in December 2011. The project produced about 24,000 tonnes of nickel in 2016, and this year’s guidance was 25,000 tonnes. More information about First Quantum is available at www.First-Quantum.com.