Eramet posts $697M loss, delays Weda Bay project
Feb 21, 2014 | 03:55 PM
| Rey Mashayekhi
NEW YORK Eramet SA posted a 2013 net loss exceeding 507 million ($696.7 million) due to "extremely low nickel prices" that have led the mining conglomerate to postpone development at its Weda Bay project in Indonesia, the company said Feb. 21 in its year-end earnings report.
Paris-based Eramets loss came as revenue fell 8.3 percent from 2012, in large part due to a 22-percent decline in revenue from the companys nickel operations.....
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