Independence Group has cut jobs and halted exploration at its Long nickel mine.
Ongoing weakness in the nickel price has forced the move which has seen 30 exploration jobs go, only months after a new mine plan was created, according to The West.
Nine roles will also be cut as it scales back work at its Jaguar project.
It has reduced the forecast exploration spend by approximately $20 million.
“The changes we have implemented demonstrate our commitment to actively managing and prioritising the allocation of capital across the business during very challenging commodity markets,” Independence explained in a company statement.
“Some of the decisions have been difficult ones, given the quality within the portfolio of brownfields and greenfields opportunities, and we deeply regret the impact these changes will have on some of our people.”
However, the miner will consider resumption of exploration once the price picks up.
Another local nickel miner, Mincor Resources, is also seeing rumours abound on future job losses at its site, with 20 to 30 workers believed to be on the chopping block for next month.
Nickel has been hit particularly hard in the current mining downturn, sitting close to a relative all time low hit in the 1970s.
The most prominent nickel collapse of late has been the closure of Clive Palmer’s Queensland Nickel Yabulu refinery, which saw 237 workers made redundant.