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BRIEF-First Quantum Minerals Ltd - announced its intention to suspend operations at its Ravensthorpe nickel operation

Published 2017-08-09, 06:13 a/m
© Reuters.  BRIEF-First Quantum Minerals Ltd - announced its intention to suspend operations at its Ravensthorpe nickel operation
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Aug 9 (Reuters) - First Quantum Minerals Ltd FM.TO

* First Quantum Minerals Ltd - announced its intention to suspend operations at its Ravensthorpe nickel operation, in Western Australia

* First Quantum Minerals Ltd - anticipated that full care and maintenance will be in effect by early October 2017 for ravensthorpe nickel operation

* First Quantum Minerals-cost to suspend operations, enter care, maintenance is estimated at $10 million with subsequent annual maintenance of about $5 million

* First Quantum Minerals - intention to place ravensthore nickel operation on care and maintenance at beginning of sept 2017 due to low nickel price

* restart cost for Ravensthorpe nickel operation, should favorable conditions prevail, is estimated at $10 million

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