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No Berong restart till Q3, says Toledo
April 14, 2009 - 15:49 GMT
Location:
London
Toledo Mining does not anticipate restarting operations at its Berong nickel mine until at least the third quarter of the year
Output at Berong and the company's Ipilan mine, both located in the Philippines, was zero during the first quarter, the company said.
But Toledo’s share price has risen in recent weeks to 40 pence ($0.60) from around 8 pence at the beginning of February, indicating that the market views Toledo positively.
Toledo suspended production at Berong in November last year after nickel prices fell below its production cost of $17,000-18,000 per tonne (MB Nov 11).
Nickel settled at...
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Euromoney Institutional Investor PLC.
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