FQM Australia Nickel transition

Yesterday we all heard of the decision by FQM Australia Nickel to transition to a new model, while the nickel price remains at its current level.

The new model reduces production at the Ravensthorpe mine, focusing now on processing the existing stockpiles. The result of this will be a workforce reduction of approximately 30%.

The Chair of Wagyl Kaip Southern Noongar Aboriginal Corporation, Jeanice Krakouer was contacted yesterday by the General Manager Scott Whitehead, as was the CEO Noelene McCormick. Scott provided his assurance that FQM would continue to meet its obligations under the Ravensthorpe Operating Agreement, for the time being.

The CEO Noelene McCormick said that we understand that this decision has been made to ensure the future of this mining operation and we appreciate the reassurances given yesterday by the general manager. The grant program, funded by FQM, is important to us and will continue for now.