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Frances Creek on the brink of closure

11th July 2014

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – Speculation emerged on Friday that the Frances Creek iron-ore mine, in the Northern Territory, could close, causing some 320 positions to be made redundant.

The Noble Group acquired the Frances Creek operation 2011, as part of its acquisition of then ASX-listed Territory Resources.

“Employees of the Frances Creek mine are being advised of the need to reconfigure the mine in response to the current market conditions with the aim of prolonging the mine’s operating viability,” Territory Resources director Ben Stewart told Mining Weekly Online in response to the media speculation.

“We appreciate that this is a difficult time for employees, the town and traditional owners generally, and we will keep employees and other stakeholders informed as the process develops.”

At full capacity, the mine exports about 2.2-million tonnes a year of high-grade lump and fines product.

Edited by Creamer Media Reporter

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