quarterly report 31st march, page-12

April 8 (Bloomberg) -- Minara Resources Ltd., Australia’s second-largest nickel producer, reported first-quarter production was little changed and said the market remains “volatile.”

Output from the Murrin Murrin project was 7,762 metric tons in the three months ended March 31, from 7,754 tons a year earlier, the Perth-based company controlled by Glencore International AG, said today in a statement. It maintained its full-year forecast of between 30,000 tons and 34,000 tons.

“The plant continues to operate on a consistent production platform in line with budgets,” the company said. “As a result of our cost-saving initiatives, we are maintaining significant cash reserves and have a strong balance sheet with no debt.”