CAPITAL MARKETS

Western Areas profit takes a dive

THE downswing in nickel prices and the strong Australian dollar has hit Western Areas’ bottom line, with the nickel miner delivering a 64% drop in after-tax profit for the half year despite record mine production and lower cash costs.

MiningNews.Net
Western Areas profit takes a dive

After-tax profit fell from $A67.2 million in the December 2010 half year to $A24.1 million in the December 2011 half year. Revenue from nickel sales for the period was $149.1 million, down 35% from...

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