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First Quantum Minerals to resume mining in the Australian nickel mine Ravensthorpe

Despite the instability of the nickel market, the mining group of Canadian First Quantum Minerals limited is planning to reopen a nickel mine Ravensthorpe. Already this year, according to statements by the company's administration, the work will be resumed at the mine, and in the plans of the company — a rapid access to volumes of production of about 40 thousand tons of nickel per year.

nickel mining at the deposit was suspended in late January, heavy for metallurgists 2009. Then in Australia, stopped work several nickel projects. Including the expansion of production it was postponed at the mine Murrin Murrin, owned by Minara Resources (Australian concern, the second largest producer of nickel on the mainland) and Cawse mine, owned by MMC «Norilsk Nickel». The company BHP Billiton, who owned at the time the asset Ravensthorpe, said about the loss of the project against the background of non-extension of contracts with Japanese buyers of nickel and due to the lack of optimistic prospects regarding metal sales in the near future.

The mine changed hands only a year later, when the Australian government issued an official package licensing securities entitling Canadian businessmen in the development of the field. The amount of the sale was $ 340 million.

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