PERTH (miningweekly.com) – TSX-listed metals miner First Quantum this week officially opened its Shoemaker-Levy mine at the Ravensthorpe nickel/cobalt operation, in Western Australia.
The new orebody would extend the mine-life by at least 20 years.
The mine employs some 650 staff and produces around 30 000 t/y of mixed nickel/colbat hydroxide intermediate product used in the production of nickel sulphate
Since being restarted by First Quantum in 2011, the operations have had nickel sales of 202 782 to and cobalt sales of 7 527 t.
Western Australia’s Mines and Petroleum Minister Bill Johnston congratulated First Quantum on the opening of the new Shoemaker-Levy mine.
“Ravensthorpe has felt the impact of a volatile nickel market in previous years but since 2020 nickel prices have trended upwards because of the increasing global production of batteries,” he said.
"This new mine will add decades to the life of this rejuvenated operation, securing jobs and strengthening the government's vision for Western Australia's future battery industry strategy."
First Quantum in May this year struck a $240-million deal with Korean steel major POSCO to sell a 30% stake in the Ravensthorpe operation. POSCO was provided with a long-term offtake agreement for 7 500 t/y of nickel in mixed nickel-cobalt hydroxide precipitate produced at Ravensthorpe, beginning in 2024.