Australian Nickel Miner Mincor Cuts Cost 39%

Platts reported Mincor Resources (ASX:MCR) achieved a 39% cash cost reduction to A$5.39/lb ($5.43/lb) at its Kambalda nickel district.

The market news is quoted as saying,

The average nickel grade of 3.55% during July-August was a 45% improvement over the April-June quarter, Mincor added without providing comparison production figures.

The strong performance in July and August has generated a total of A$15 million in operating surplus, before total capital and exploration costs incurred of A$5.63 million, for the first two months of the fiscal year ending June 30, 2012. In comparison, the operating surplus for the entire three months of April-June was only A$3.9 million.

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