Xstrata Plans to Close Sinclair Nickel Mine in Australia
02 Maggio 2013 - 3:52AM
Dow Jones News
By Stephen Bell
SYDNEY--Xstrata PLC (XTA.LN) said it plans to close its Sinclair
nickel mine in Western Australia state this month, in the latest
move by a major mining company to cut costs amid soft metals
prices.
Sinclair is reaching the end of its expected life and mining
will finish May 15, Xstrata said in a statement. Stockpiled ore
will continue to be processed into the third quarter of the
year.
It follows Xstrata's move to shutter its nearby Cosmos mine in
September due to a prolonged period of low nickel prices and the
high Australian dollar.
The latest closure comes as Xstrata and Glencore International
AG (GLEN.LN) finalize their merger, which is due to come into
effect Thursday.
-Write to Stephen Bell at djnews@dowjones.com
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