First Quantum Metals (TSX: FM, Stock Forum) suffered a setback at its Ravensthorpe nickel operation located in Western Australia when the company announced today that a structural failure had occurred in the atmospheric leach tank at the site.
According to the news release, the acid spill that resulted from the aforementioned failure had been contained within the facility's protective bunded area. All personell have been accounted for with no injuries reported.
The plant has been shut down and as of the latest information, no environmental damage is expected.
Management is currently investigating the cause of the incident and is inable to provide estimates as to how long the plant will be out of commission or how much impact the failure will have on production.
The company assured the public that it would release more news regarding the incident as it becomes available.
First Quantum Metals was in the news recently when the Vancouver-based company released Q3 2014 financial results at the end of October.
Currently there are 600.5m outstanding shares with a market cap of $9.9 billion.