Finnish zinc and nickel mining company Talvivaara has denied it will be cutting jobs as part of a cost savings plan.
Rumours had been circulating that the low price of nickel would force a reduction in headcount.
In a statement released on Monday, however, the firm says it believes its: "cash reserves remain sufficient regardless of the low nickel price on the basis of current cash position and previously announced near-term production and cost savings measures."
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The group's share price has lept 8.3% in response to the news although it is still down 32% since the start of the year.
BS
-
Barclays begins paying up to £100 compensation to customers after banking outageBarclays will pay up to £7.5 million in compensation to customers after its banking services were disrupted by an IT outage
-
Review: Shangri-La Paris – an ode to the world’s best foodNatasha Langan enjoys fine French and Chinese cuisine at the Shangri-La Paris
