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
