Mining Journal reported that China Minmetals Corp, the nation biggest metals trader is studying the restart of the Avebury nickel mine in Australia after a rebound in prices.

Mr Andrew Michelmore CEO of the company Australian unit Minerals & Metals Group said in a statement that the company has recently committed a team to review the operations there in the hope of recommencing the operation when economic conditions improve.

He said "Given the high cost involved in restarting an operation, we need to be absolutely sure that prices will remain at an economically viable level to make that decision. He added that Nickel prices are still doing it tough at around USD 15,000 per tonne to USD 16,000 per tonne.

The mine would be making cash at current prices, Mr Michelmore said in a June 18th interview when the price of nickel for three month delivery on the London Metal Exchange was USD 15,010 per tonne. The price fell 0.3% to USD 16,899 per tonne at 4:02PM Sydney time.

(Sourced from Bloomberg)