SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Gold/Mining/Energy : Mining News of Note
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: LoneClone who wrote (113857)9/25/2015 6:06:11 PM
From: LoneClone  Read Replies (1) of 194504
 
Mirabela Nickel goes into administration

25th September 2015 By: Esmarie Swanepoel Creamer Media Senior Deputy Editor: Australasia

miningweekly.com



PERTH (miningweekly.com) – ASX-listed Mirabela Nickel on Friday announced the appointment of administrators as tough market conditions persisted.

Mirabela told shareholders that the administrators would seek to progress discussions with financiers to put in place funding arrangements or restructuring options to alleviate the liquidity challenges currently being faced by the company’s Santa Rita mine, in Brazil. The miner said that the continuing decline in nickel prices had eroded the company’s financial position, necessitating the appointment of the administrators. In August this year, Mirabela announced that mining operations at Santa Rita would slow down in order to combat the depressed nickel price environment by reducing operating costs.

The material movement was limited to feeding the gyratory crusher from existing ore stockpiles and broken ore from the pit, which had been expected to provide the project with up to two months of steady plant feed. Mirabela said on Friday that despite the appointment of administrators, the Santa Rita mine would, for the moment, continue with its normal operations, including mining, processing, nickel concentrate production and sales to its regular customers.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2026 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News