Management Albidon (Australia) had to resort to finding a strategic partner to combine assets. Such measures are pushing the company financial problems associated with low profitability of nickel production due to falling world prices for nickel and the lack of prospects for improvement in the near future.
Because of the difficulties mentioned above, in November of this year Albidon suspended work on a nickel mine Munali, located 60 km south of the capital of Zambia, Lusaka. To the list of problems the mining company added a series of strikes in the working-controlled enterprises, as well as a number of accidents that have occurred in the organization of production.
According to the owners of an Australian company, the merger of assets with a strategic investor and the reorganization of the existing structure will help to align Albidon difficult situation and return the nickel assets of financial stability.
Now about 50% of the shares owned by Albidon JinchuanGroupInternationalResources (PRC), which the company sold to Asian businessmen in 2009. It is planned that after the conclusion of agreements with new strategic investor, the share of the Chinese corporation in the total number of assets will be reduced.