SYDNEY (Dow Jones)--Australian nickel miner Albidon Ltd. (AlB.AU) said Friday it plans to announce details of a capital raising, and requested a temporary suspension from official quotation.
The Perth-based miner has been in a trading halt since Tuesday, reviewing its financial position.
Nickel miners have been under pressure from sharply falling prices that have prompted many miners to curtail production.
Albidon this year commissioned its Munali nickel mine Zambia, with a life-of-mine off-take agreement with China's largest nickel producer Jinchuan.
-By Elisabeth Behrmann, Dow Jones Newswires
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