Fire has destroyed part of Atlantic’s vanadium plant at Windimurra in Western Australia on Tuesday afternoon, forcing the company to request an immediate trading halt.
No workers were injured in the blaze at the company’s beneficiation plant which Atlantic said was quickly brought under control late in the afternoon.
“Site management enacted the emergency response procedures which enabled the fire to be quickly contained and to ensure all personnel were safe,” it stated.
While the cause of the fire is still unknown, The West Australian reports the tower containing the magnetic separation plant was damaged.
The company is requesting the trading halt remain in place until Friday when it expects to make an announcement about the extent of fire damage at the premises.
It’s the latest challenge for the struggling producer which at the end of December had just over $600,000 cash in the bank.
Last month Atlantic said it is considering legal action against the plant’s previous owner after encountering continued problems at its crushing, milling and beneficiation plant.
The miner acquired the mineral processing plant from Mineral Resources, and since that time states it has “spent in excess of $20 million to date rectifying issues in the CMB plant and suffered significant losses due to the problems arising from the plant, estimated to be in excess of $100 million”.
Investigations into Tuesday’s fire are ongoing.