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Albidon shuts down Zambia nickel mine citing ‘serious cash flow difficulties’

Mining Weekly | November 11, 2011 | 11:36 pm Base Metals Africa Europe Nickel 

Mining Weekly reports Albidon’s (ASX:ALB) problems escalated on Friday after it suspended operations at its Munali nickel mine, in Zambia.

The company said in a statement that it was experiencing “serious cash flow difficulties” as the Munali operation delivered less-than-budgeted nickel recoveries and global nickel prices dropped sharply. Trade in Albidon’s stock was halted in August.

Continue reading at Mining Weekly.

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