| Abstract: |
Diversified miner Xstrata, which is bidding to buy Lonmin for $10-billion, on Tuesday announced the temporary shutdown of its Falconbridge Dominicana (Falcondo) nickel operation, owing to high input costs and low metal prices.
The shutdown, which confirmed BHP Billiton CEO Marius Kloppers’ prediction on Monday that the industry would see closures, would last for four months, while Xstrata would conduct furnace repairs and crucial maintenance activities.
“It wouldn’t surprise me if we see shutdowns,” Kloppers said of the nickel industry, after cost pressures and low prices ate into margins. |
Back CopiesNews This WeekCartoonWeekly FeaturesFeatures LibraryMining PersonalityColumnist: Digging Deep
Home.gif)
