Metals prices hit Xstrata bottom line Platmin lifeline

摘要

THE drop in metals prices caused a 77 percent fall in first-half profit for diversified producer Xstrata plc. Net income fell to 643 million US dollars, from 2.77 billion US dollars in 2008. Xstrata chief executive Mick Davis said: "A solid production performance in the first half in thermal coal, mined nickel, zinc and copper largely mitigated the effects of lower volumes from the suspension or early closure of unprofitable, high-cost operations as well as reduced ferrochrome, ferronickel and coking-coal production to align supply with demand."