From Noticias de mineracao Brazil yesterday.
Translated with google translate.
Mirabela Nickel, which controls Mirabela Mineração, today called, in Australia, the suspension of negotiations of shares traded on disallowed of that country. The main reason is the sharp drop in nickel prices in the international market which led the company to open negotiations with potential financiers.
The sole asset of Mirabela's nickel mine Santa Rita in Itagibá (BA). At the London Commodity Exchange (LME), the nickel traded on the spot market has lost almost 37% of the year until yesterday (26) when it was quoted at US $ 9,538 a tonne.
In the statement sent by Mirabela to the ASX, the body that has similar functions to the CVM in Brazil, the mining company says it will not be able to send financial results for the fiscal year ended June 30 until we finalize the discussions with the funders.
Suspension of buying and selling stocks to last until the end of September, when the Mirabela believes it will be possible to disclose the results of negotiations with the companies involved in the financing of its operations in Brazil and Australia.
Since the 14th of this month, the mining company has placed employees of the mine operation areas, mine maintenance and planning & control in mine shutdowns in order to reduce costs and face the metal price drop. The shutdowns will end on 12 September.
The mining company currently has about 600 direct employees and about 500 contractors. The project comprises the operation of an open pit mine, concentration plant via flotation, which includes crushing, grinding, flotation, thickening and filtering to process the ore.
Mirabela produced 8,211 tonnes of nickel in concentrate in the first half of this year, which represents an increase of 44% compared to the same period last year. The company went through a process similar to a court reorganization in Australia, during which the production has been reduced. In June 2014, when a new president was appointed, again increasing production. The goal for this year is 18,000 tons of nickel.
