Panoramic Resources cuts jobs after seismic event

An earthquake at Panoramic Resources’ Lanfranchi operations has forced the company to suspend mining at the Deacon orebody and cut jobs.

On July 29, the Lanfranchi nickel mine, located 50 kilometres south east of Kambalda in Western Australia, experienced a magnitude 2.3 seismic event.

Company personnel and geotechnical consultants have since carried out a detailed underground inspection and assessment.

Panoramic said while no damage of consequence was detected to the Deacon decline or production drives, given the limited ore remaining at Deacon and the prevailing low nickel price, the company has suspended mining at its Deacon and Jury-Metcalfe orebodies.

As a result, around half of the Lanfranchi workforce, or 76 jobs, have been made redundant.

Panoramic said mining will continue at the Lanfranchi orebody, along with development activities to establish access Lower Schmitz.

Panoramic is working towards a December maiden reserve at the high-grade Lower Schmitz find.

The company will also be forced to revise production guidance for the first half of FY2016.

The Lanfranchi operation produced 13 775 t of contained nickel in FY2015.



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