Andrew Forrest's Wyloo Metals toshutter Kambalda nickel mines after prices slump
ABCGoldfields / By Jarrod Lucas
More than 250 mining jobs are set to be affected by the closure ofanother operation in Western Australia's once-booming nickel industry, as aresources analyst warns there could be several tough years ahead for thesector.
Billionaire Andrew Forrest's Wyloo Metals has confirmed itsKambalda nickel mines will be placed in care and maintenance mode by May 31,with prices for the stainless steel and battery ingredient slumping 45 per centin the past 12 months.
It comesbarely six months after Mr Forrest's private company paid $760 million toacquire the Cassini, Long and Durkin mines at Kambalda, which employ 44 Wylooworkers and 220 contractors.
The closurefollows this month's mothballing of the Savannahnickel mine in WA's Kimberley, and the decision by First Quantum Minerals to cease mining at the Ravensthorpe nickel mine onWA's south coast and cut 30 per cent of its workforce.
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