Falconbridge Ltd. announced that due to a national strike in Venezuela curtailing the supply of crude oil to its Dominican Republic plant it is reducing its daily production of ferronickel by 30 percent. According to Falcolnbridge, based on current reserves and the reduced output, the plant will be able to keep operating until Dec. 27.
At full production capacity, the plant requires about 320,000 barrels of crude oil per month. Ferronickel production at the plant is expected to be 22,500 metric tons for 2002, including the impact of oil shortage in the fourth quarter. Production will also be affected in January 2003, but the impact will depend on delivery dates of new oil supplies. Production for 2003 was targeted at 28,000 metric tons.
Falconbridge is a leading low-cost producer of nickel, copper, cobalt and platinum group metals.
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