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| Nickel Production At Sherritt International / Canada In Apr. - Jun. 2009 Quarter |
| = Produced 9,277 Tons Of Mixed Nickel Sulfide As Increased By 7% From That In Same Quarter / 08 |
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Sherritt International Corporation (Sherritt) of Canada released on the 29th of July (local time) their settlement of accounts for the second quarter (April - June) of 2009. According to this report, the output of mixed nickel sulfide in the second quarter of 2009 was 9,277 tons (100% basis), having increased by 7% (631 tons) compared with that in the same quarter of 2008, and this increase of the production reflects the impact of the additional capacity from the Phase 1 Expansion commissioned in the second quarter of 2008. In the second quarter of 2009, Sherritt produced 8,522 tons (100% basis) of finished nickel and 940 tons (100% basis) of finished cobalt, and these quantities increased by 15% (1,115 tons) for nickel production and by 16% (129 tons) for cobalt production respectively in comparison with those in the same quarter of 2008. Sherritt sold 9.6 million lbs. (50% basis) of nickel and 1.1 million lbs. (50% basis) of cobalt in the second quarter of 2009. The former increased by 17% and the latter increased by 20% respectively compared to those in the same quarter of 2008. Therefore, the quantities produced by Sherritt in the first half (January - June) of 2009 were <> mixed nickel sulfide : 18,549 tons (compared with 37,000 tons produced in full year of 2008), <> primary nickel : 16,668 tons (33,500 tons in 2008) and <> cobalt : 1,877 tons (3,500 tons in 2008). Ambatovy Project expenditures for the second quarter of 2009 were US$326.8 million, bringing total Project expenditures to approximately US$2.7 billion as of the 30th June of 2009. There were no borrowings against the senior project loans in the second quarter of 2009. Sherritt finalized arrangements with its Ambatovy partners to fund Sherritt's pro rata share of the shareholder funding for the Ambatovy Project. |
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| last modified : Wed 05 Aug, 2009 [09:57] |
