Australian Miners Threatened by Low Nickel Prices

ABC reported that independent analyst Tim Treadgold believes that nickel mines in Australia’s Goldfields-Esperence region may have to close if the metal’s price does not improve.

As quoted in the market news:

‘The people who might survive in the long run are the high grade mines run by independents and Mincore,’ he said.

‘Their saving grace is they have very high-grade ore but Minara and Ravensthorpe must be feeling the pressure.

‘Some of the older mines around Kambalda, I think a couple have already closed, the old WAMC mine which opened and then closed again.

Click here to read the full ABC report.