China’s Xinxin Mining Will Report a Big 4th Quarter Profit from Nickel Volume

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Xinjiang Xinxin Mining Industry, China’s second-largest producer of nickel used in stainless steel production, told the South China Morning Post it expects its fourth quarter results will show a profit and a 300% jump in revenue.

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The improvement was due to higher nickel prices, sales volume and lower production costs in 2014, while revenue was also boosted by the commissioning of a copper project in the middle of last year, the Xinjiang-based firm said in a filing to Hong Kong’s stock exchange.

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