Consolidated Minerals revises FY nickel targets down on mine delay |
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Thu, 26 Apr 2007 08:06
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LONDON (Thomson Financial) - Australian miner Consolidated Minerals Limited said it has revised its full year nickel production target down to 4,000 tonnes from a previously reported 4,600-5,000 tonnes as a result of variable ore grades and a delay in production start-up at Widgiemooltha.In a third-quarter update, the company said manganese and chromite production, at 196,256 tonnes and 62,366 tonnes respectively, was in line with full year guidance.Consolidated had been relying on its Widgiemooltha discovery to contribute to its target of increasing nickel production to 15,000 tonnes per year, however the project is now expected to start in early 2008 'due to timing of mining and environmental approvals,' the company said.kathy.sandler@thomson.comksCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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