The CEO of Canada's Lundin Mining Corp. says production at the Aguablanca nickel and copper mine in Spain could be suspended later this year if there isn't a "substantial improvement" in nickel prices.
The Toronto-based miner has taken several steps to reduce costs in the face of lower base metals prices, including selling its Aljustrel zinc mine in Portugal and permanently closing the Galmoy lead, zinc and silver mine in Ireland. Chief executive Phil Wright said Lundin is taking a "very cautious" approach to its operations in 2009 and Aguablanca could be the next mine to close if prices don't rebound further.
SourcE: Toronto Globe and Mail
No comments:
Post a Comment