DJ Mincor Plans To Increase Nickel Production By Up To 16,000 Tons

CANBERRA, July 22 -- Australian nickel producer Mincor Resources NL (MCR.AU) Thursday outlined plans to increase nickel production to between 15,000 metric tons and 16,000 tons in the fiscal year ended June 30, 2012.

The company, which operates mines in the Kambalda nickel belt in Western Australia and produced 2,921 tons of nickel in ore in its fourth quarter ended June 30, 2010, up 10% on the previous quarter, to take output last fiscal year to 11,793 tons, aims to increase output this fiscal year to 13,500 tons-14,500 tons, it said in a statement.

Output in the 2009-10 fiscal year fell from fiscal 2008-09 due to the Miitel mine being idled for all of the year, but its cash operating surplus rose 24% on year in fiscal 2009-10 to A$83.1 million, the company said.