Sherritt International posts loss due to lower nickel prices

Wed Jul 31, 2013 8:26am EDT
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(Reuters) - Canadian miner Sherritt International Corp (S.TO: Quote) posted a loss in the second quarter, compared with a profit a year earlier, due to lower prices of nickel and cobalt and fall in sales volumes.

The nickel miner posted a net loss of C$10.7 million ($10.4 million), or 4 Canadian cents per share, compared with a net profit of C$40.8 million, or 14 Canadian cents per share, a year earlier.

Revenue fell 10 percent to C$338.5 million.

(Reporting by Bhaswati Mukhopadhyay in Bangalore)