mincor on a roll and diversifying away from nickel

Mincor On A Roll And Diversifying Away From Nickel

By Our Man In Oz

In his darker moments, when thinking about past mistakes, former WMC Resources boss, Hugh Morgan, must seriously question why he authorised the closure of the once great company’s many nickel mines which dot the landscape around Kambalda in central Western Australia. True, nickel prices were low through much of the 1990s, and equally true, the mines are small and chew up manpower and management time. But, the point which is being driven home today by their new owners is that they are rich, and in the mining world there is a saying which will never go away: “grade is king”. That point is being underlined, highlighted, and printed in bold capitals every day during the current nickel boom by a small Australian miner called Mincor. As well as the small, but rich, nickel mines, Mincor “stole” WMC’s old title and calls itself “the Kambalda nickel company”. The latest plan is to use the mines, which put nickel and WMC on the Australian map way back in 1966, as a lever to grow into new mines, and new metals, and potentially emerge as a diversified miner of global significance .. more ..

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