Metals X closes Nifty

The new board at Metals X has pulled the pin on Nifty, with the closure of the copper operation in Western Australia set to result in 290 staff losing their jobs and the company outlaying A$35 million (US$24 million) to pay creditors and put the mine on care and maintenance

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Nifty has failed to live up to expectations

Metals X said it "remains in a sound financial position" with estimated cash at the end of November 2019 of some $45 million excluding cash-backed bonds of $11 million.

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