IGO to record impairment against nickel assets in strategy shift
IGO has been undertaking a strategic review in an attempt to revaluate its resources.
Lundin Mining Corp. (TSX:LUN) says an assessment of its Aguablanca mine suggests full operations will likely restart in 2012 after a shutdown in December due to heavy rains, according to a report in The Brandon Sun:
The base metals miner says it plans to spend the year preparing the mine to guarantee the operation’s viability and safety after an assessment at the nickel mine in Spain.
It will reduce is workforce at the mine to meet the requirements for maintenance and health and safety control of the mine.
Lundin says reserves at the mine represent about five years of production. It did not give production guidance for 2011.
Rainfall in the Extremadura region of Spain caused the southwest wall of the open pit Aguablanca mine to collapse, affecting the main access ramp and curtailing operations.
