Vale Inco strike lands FNX $55.7M in the red in 3d qtr.
Nov 12, 2009 | 11:00 AM
| Tom Jennemann
Junior nickel and copper miner FNX Mining Co. Inc. saw its net loss more than double in the third quarter as it was forced to stockpile significant amounts of nickel due to a labor strike at Vale Inco Ltd.'s Sudbury, Ontario, operations.
The Toronto company reported a quarterly net loss of Canadian $58.5 million ($55.7 million), widening from a net loss of C$26.5 million in the year-ago quarter, on sales that fell 75.4 percent to C$18.8 million ($18 million) from C$76.4 million.....
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