CONSOLIDATED Minerals is forecasting a major increase in trading...

CONSOLIDATED Minerals is forecasting a major increase in trading profit to $A115 million in fiscal 2008 on the back of a significant jump in nickel production.



Consolidated Minerals managing director Michael Kiernan

ConsMin's annual nickel output from its Kambalda operations is targeted to rise from current levels of around 5000-10,000 tonnes to around 20,000t.

Trading profit this year is put at $25 million – with $7.4 million reported for the first half – rising to $85 million in 2007, with ConsMin using prices of $US3.25 per dry metric tonne unit of manganese, $US120/t of chromite and a nickel price this year of $US6.50 per pound of nickel and $US6/lb in 2007.

ConsMin's managing director Michael Kiernan also told corporatefile that it was using a long term copper price of $US1.10/lb, with ConsMin having a stake in emerging copper-zinc producer Jabiru Metals.

Shares in ConsMin were up 2c (1%) in midday trade at $2.25, having been priced at $4.47 last August.

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