FNX cuts production further, prepares for two-year slump
Dec 11, 2008 | 10:16 AM
| Mick Bowen
Canada's FNX Mining Co. Inc. has stopped nickel ore production indefinitely at the McCreedy West Mine in Ontario's Sudbury Basin and said it has no plans to resume commercial production at the Levack Mine.
FNX laid off 248 hourly workers and 59 salaried staff due to the production cut.
"We're going to hunker down, preserve cash and get through this," Terrance MacGibbon, chairman and chief executive officer of the Toronto-based company, told AMM. "We're preparing for a two-year war."....
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