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Glencore Xstrata PLC To Close Nickel Mine-Reuters

Wednesday, 2 Oct 2013 07:38pm EDT 

Reuters reported that Glencore Xstrata PLC is suspending operations at its Falcondo nickel mine in the Dominican Republic due to falling nickel prices. Wednesday's announcement came a day after legislators created a national park on the outskirts of the mine, although the Company said its decision was not related to environmental pressures. A spokesman for the Switzerland-based company said the mine will be shuttered temporarily for up to three years resulting in the loss of up to 1,000 jobs.