Sino-Platinum: Nickel Subsidiary to Resume Production Late May

SHANGHAI, May 19 -- The Shanghai-listed Sino-Platinum Metals Co. Ltd. announced Tuesday its nickel subsidiary Yunnan Tin Group Yuanjiang Nickel Industry Co. will resume production in late May, with monthly nickel output expected to reach about 120 tons.

    Yuanjiang Nickel Industry had suspended production since October 1, 2008 due to cost pressure from slumping nickel prices but surging prices of major raw materials such as sulfuric acid, sodium sulfide.

    The company's losses can reach 4-7 million yuan per month during its suspension.

    As the current nickel market is on the mend, the nickel maker board deems that restarting production will make up the company's earlier losses and benefit its long-term development.

    (Source: chinamining.org)