Canadian Miner First Quantum Minerals says it will be suspending mining operations at its WA base

It has been announced that 125 hard-working Aussies are now set to lose their jobs in 2024.

A major company is ceasing its mining operations and slashing 30 per cent of its workforce meaning dozens of Aussies will lose their jobs.

Canadian Miner First Quantum Minerals has announced it will be suspending work at its WA base in Ravensthorpe under a three-year plan, according to The West Australian.

The Australian nickel sector has previously been a lucrative business, but nickel prices have halved in value since January 2023.

General Manager Scott Whitehead said that the company would be “transitioning” into a fresh operating model and going forward it will only be processing existing stockpiles for the next three years.

“Transitioning to a new operating model will allow us to continue to produce and export our nickel product, which is a critical mineral and has a lower carbon footprint than other suppliers,” he said.

Aussies are at risk of losing their jobs. Picture: iStock

Whitehead explained that the move had been made in the hopes of still being able to support the Western Australian community.

“The operational changes will ensure RNO remains viable longer term and we will retain most of our residential and FIFO workforce, thereby supporting the communities of Hopetoun and Ravens thorpe and providing income for the region and Western Australia.”

The West reported that out of the 420 people working at Ravensthorpe, 125 employees could be on the chopping block.

In November 2023 a report from Australian HR Institute (AHRI) said there was as impending job crisis with up to 60 per cent of public sector employers set to make redundancies.