BHP Billiton commenced a feasibility study in 2002 into opening a nickel and cobalt mine and processing plant 35 km East of the town
The project was approved in 2004 and construction commenced shortly afterward.
The plant known as the Ravensthorpe Nickel Project was commissioned in late 2007 with first production occurring in October and the first 5000 tonnes being produced by December 2007.
The plant was officially opened in 2008.

In January 2009, BHP Billiton announced that it was suspending production at the Ravensthorpe nickel mine indefinitely, due the reduction in world nickel prices caused by the global economic crisis.
The decision cut 1,800 jobs and had a major impact on the local economy.

On 9 December 2009, BHP sold its Raventhorpe mine, on which it had spent A$2.4 billion to build, to Toronto-based First Quantum for US $340 million.
First Quantum was one of three bidders for the mine and actually produced the lowest offer.
The Canadian company planned to have the mine back in production in mid-2011.
In 2017 the mine was put into care and maintenance "due to persistently low nickel prices", but was due to reopen in 2020.
BHP Billiton commenced a feasibility study in 2002 into opening a nickel and cobalt mine and processing plant 35 km East of the town
The project was approved in 2004 and construction commenced shortly afterward. The plant known as the Ravensthorpe Nickel Project was commissioned in late 2007 with first production occurring in October and the first 5000 tonnes being produced by December 2007. The plant was officially opened in 2008.
In January 2009, BHP Billiton announced that it was suspending production at the Ravensthorpe nickel mine indefinitely, due the reduction in world nickel prices caused by the global economic crisis. The decision cut 1,800 jobs and had a major impact on the local economy.
On 9 December 2009, BHP sold its Raventhorpe mine, on which it had spent A$2.4 billion to build, to Toronto-based First Quantum for US $340 million. First Quantum was one of three bidders for the mine and actually produced the lowest offer. The Canadian company planned to have the mine back in production in mid-2011. In 2017 the mine was put into care and maintenance "due to persistently low nickel prices", but was due to reopen in 2020.
Ravensthorpe, Western Australia