Norilsk shutters WA nickel plant as metal's price falls by:
NORILSK Nickel, the world's largest nickel producer, has indefinitely suspended production at its Lake Johnston operation in Western Australia and will lay off 60 employees.
The company may resume operations if market conditions improve. Comprising a mine and a processing plant, Lake Johnston opened in 2001 and has capacity of 1.5 million tons of nickel per year.
Norilsk sought to sell the mine earlier this year as it looks to consolidate its overseas holdings but said it would close the facility if a buyer could not be found.
The LME nickel price has fallen over 18 per cent since February, dragged lower in the slump that has hit base metals on concerns of a growth slowdown in China, the top global consumer of industrial metals
Base metals are struggling with more closures ! When will this market turn ?
nickel news
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