OZ Minerals closes Avebury nickel mine
Debt-laden miner OZ Minerals Ltd has closed its Avebury nickel mine in Tasmania and lost almost $400 million in expected revenue because of a 68 per cent fall in the price of the metal.
OZ Minerals Ltd., owner of the A$1.2 billion Prominent Hill copper-gold mine in Australia, swung to full-year profit as prices rose to records, prompting a A$588 million capital return to shareholders.