Exploration drilling immediately east of the Avebury underground mine extended known mineralisation and identified new mineralised zones within the ultramafic sequence. Better intersections include 22m at 1.0% Ni from 315m and 15.3m at 1.2% Ni from 812m.
December 19, 2008
Oz Minerals will put the Averbury nickel mine in Tasmania, Australia, on care and maintenance until further notice as a result of current market conditions and is reviewing profitability of all its operations. CEO Andrew Michelmore stated that with current nickel prices of US$4.40 per pound Averbury was not profitable. Averbury was commissioned in August and has produced 10,381 tonnes of nickel concentrate to date this year.
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