It is reported that Oz Minerals is confident the Rosebery mine in Tasmania will be secure under new ownership, but can't guarantee the future of the Avebury operation.

Mr Andrew Michelmore Oz Minerals said that the future of Avebury will depend on a recovery in the price of nickel. He added that "It's a good operation, nickel sulphide, high grade concentrated producers I know the customers wanted. But at the current price of nickel, like many nickel mines, around the world it's just not economic to open."

A takeover by Chinese state owned Minmetals was knocked back by the federal government last week on national security grounds.

(Sourced from www.abc.net.au)