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June 19 (Reuters) - Mineral Resources (MIN) will shut its iron ore operations at Yilgarn hub in Western Australia by this year end, the miner said on Wednesday, citing higher costs and a limited mine life.
The Yilgarn operations will be ramped down over the next six months, and the mine will then transition into care and maintenance from early 2025, the iron ore and lithium miner said.
Nearly 1,000 workers, who are likely to be impacted by the closure, will be redeployed within the firm's other operations.
"With our investment across Western Australia, we have almost 800 vacancies and will redeploy as many of our people as possible to other MinRes operations, including to our low-cost, long-life Onslow Iron project," Managing Director Chris Ellison said in a statement.
The decision aligns with the Perth-headquartered miner's focus on low-cost and long-life projects, it said.
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