Mining giant Mineral Resources has announced plans to shut down its Yilgarn iron ore hub by the year’s end in a move expected to affect up to 1000 employees after the operation was deemed no longer financially viable.
In an announcement to the market on Wednesday, the $12 billion Osborne-Park headquartered company said the decision was the product of a lengthy review and impacted by the limited life across the five operating mines and the capital required to develop new resources.A staged ramp down of the operations will take place over the next six months, with shipments to cease and the mines — which span 220 kilometres of the Goldfields region — to transition into care and maintenance in 2025.
The iron ore, lithium and gas company has operated in the region for more than a decade, running the Koolyanobbing, Parker Range, and Carina mines.after striking an eleventh-hour deal with the state government which saved the jobs of hundreds of workers, including those at Esperance Port.The company has since exported almost 45 million tonnes via Esperance Port and spent $4.2 billion running the Yilgarn operation, located about 50 kilometres north-northeast of Southern Cross.
Just last month, Ellison told the Macquarie Australia Conference in Sydney the company intended to have a 10,000-strong workforce by December.
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