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Ni, Co, Cu, PGM, Au Properties in Ontario Canada

Producing Mines and "state-of-the-art" Mill

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Yay again!

posted on Oct 30, 2008 04:32AM

Sherritt profit rises, but slows down projects
10.29.08, 12:34 PM ET

CANADA -* Profit lifted by energy prices, one-time gains

* Cuts spending, suspends C$270 mln in expansion work

* Q4 results expected to be hit by lower prices

(Adds details, changes dateline from Ottawa)

TORONTO (Reuters) - Sherritt International Corp posted a sharply higher third-quarter profit Wednesday, but said it would suspend expansion work at two projects and put its Ambatovy nickel project in Madagascar under review due to weak nickel prices.

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