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The company is exploring for nickel deposits on its Langmuir property near Timmins, Ontario; for nickel-gold-copper on its Cleaver and Douglas properties; and for molybdenum and rare earth elements at recently acquired Desrosiers property.

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Norilsk. ouch

posted on May 26, 2009 09:00AM

Norilsk loses $555m in 2008 as nickel plunges

London 26 May 2009 16:04

Norilsk Nickel swung to a $555 million net loss in 2008, after making a $5.3 billion profit in the previous year, as nickel prices plunged.

Base metal sales fell by $4.1 billion, amounting to a 32% decline year-on-year.

“The main factor of it is a substantial decrease of sales prices for nickel,” the company said in a statement accompanying the results.

“In addition, a slight decrease in physical volumes of metals sold contributed to the fall in revenue of the group.”

Total sales revenue fell 18% to $13.9 billion, led by sales of nickel product, which fell 40% to $6.1 billion. Sales...

http://www.metalbulletin.com/Article...

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