First Quantum Minerals (OTCPK: FQVLF) is shutting down the Ravensthorpe nickel mine in Western Australia. The closure follows months of production suspension. First Quantum’s original plan to process stockpiles and consider resuming mining by 2025 has been scrapped. The company blamed ongoing financial losses and the forecast of lower nickel prices in the coming years. The site was “incurring significant current and projected losses,” a company spokesperson told the Australian Broadcasting Corp. See Also: Mining Stocks Hit New Highs as Copper and Gold Exploration Show Promising Potential Nickel prices, crucial for the profitability of such mines, have seen a significant drop due ...