{"id":8886,"date":"2024-11-13T21:45:44","date_gmt":"2024-11-13T10:45:44","guid":{"rendered":"https:\/\/yinghuiinternational.com\/?p=8886"},"modified":"2024-11-23T21:54:04","modified_gmt":"2024-11-23T10:54:04","slug":"minres-temporarily-suspends-bald-hill","status":"publish","type":"post","link":"https:\/\/yinghuiinternational.com\/index.php\/2024\/11\/13\/minres-temporarily-suspends-bald-hill\/","title":{"rendered":"MinRes temporarily suspends Bald Hill"},"content":{"rendered":"\n

<\/h1>\n\n\n\n

\"\"Olivia Thomson<\/a><\/p>\n\n\n\n

\"\"\/<\/figure>\n\n\n\n

The Bald Hill lithium mine in WA. Image: Mineral Resources<\/p>\n\n\n\n

Mineral Resources (MinRes) will transition its Bald Hill lithium mine in Western Australia into care and maintenance amid cyclically low lithium prices.<\/p>\n\n\n\n

The major miner acquired<\/a> Bald Hill for $260 million in late 2023 to ensure the operation\u2019s profits stay in Australia.<\/p>\n\n\n\n

MinRes will now transition the operation into care and maintenance to preserve the mine\u2019s cash and the spodumene orebody\u2019s value for when global lithium market conditions improve.<\/p>\n\n\n\n

During care and maintenance, MinRes will continue to optimise mine plans, scale and operating structure ahead of any future restart.<\/p>\n\n\n\n

The company will cease Bald Hill\u2019s mining and mobile maintenance operations<\/strong> on November 13 and will temporarily cease operations at the spodumene concentrate plant and accommodation village by early December.<\/p>\n\n\n\n

The final spodumene concentrate shipment from the mine is also expected to be sold in December.<\/p>\n\n\n\n

Approximately 300 employees will be impacted by the transition, with all Bald Hill employees to be prioritised for redeployment across MinRes\u2019 other WA operations. Where redeployment opportunities cannot be found, a redundancy process will be followed.<\/p>\n\n\n\n

A team of about 10 MinRes employees will remain on site at Bald Hill to manage the scaling down of lithium production, as well as care and maintenance activities.<\/p>\n\n\n\n

\u201cBald Hill is a significant value opportunity for MinRes once conditions in the lithium market improve,\u201d MinRes managing director Chris Ellison said<\/a>.<\/p>\n\n\n\n

\u201cPlacing Bald Hill on care and maintenance is a prudent decision but one not made lightly. The decision aligns with the work we have done across the company in recent months to reduce costs.\u201d<\/p>\n\n\n\n

Despite the temporary shutdown, MinRes has increased Bald Hill\u2019s mineral resource by 168 per cent. The mineral resource now stands at 58.1 million tonnes at 0.94 per cent lithium oxide.<\/p>\n\n\n\n

\u201cThe significant upgrade to the mineral resources statement is evidence that Bald Hill is a high-quality asset with a long-term future,\u201d Ellison said.<\/p>\n\n\n\n

\u201cWe will continue to monitor lithium prices and site operating costs with a view to recommencing operations once conditions improve.\u201d<\/p>\n\n\n\n

Subscribe to <\/em>Australian Mining<\/em><\/a> and receive the latest news on product announcements, industry developments, commodities and more.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Olivia Thomson The Bald Hill lithium mine in WA. Image: Mineral Resources Mineral Resources (MinRes) will transition its Bald Hill lithium mine in Western Australia into care and maintenance amid cyclically low lithium prices. The major miner acquired Bald Hill for $260 million in late 2023 to ensure the operation\u2019s profits stay in Australia. MinRes will now … Continue reading “MinRes temporarily suspends Bald Hill”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[6,7],"tags":[],"class_list":["post-8886","post","type-post","status-publish","format-standard","hentry","category-mines-and-quarry","category-news"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p83F9T-2jk","jetpack-related-posts":[{"id":8807,"url":"https:\/\/yinghuiinternational.com\/index.php\/2024\/08\/10\/this-emerging-lithium-project-trumps-bald-hill-for-size\/","url_meta":{"origin":8886,"position":0},"title":"This emerging lithium project trumps Bald Hill for size","author":"yinghui","date":"August 10, 2024","format":false,"excerpt":"Staff Writer Image: Henri Koskinen\/adobe.stock.come When\u00a0Global Lithium Resources\u00a0announced a a 43 per cent resource increase for its Manna lithium deposit in June, it solidified the project as a truly world-class asset. 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