February 22, 2012 / 1:47 PM / in 6 years

UPDATE 1-Sherritt profit falls on lower commodity prices

Feb 22 (Reuters) - Diversified miner Sherritt International Corp reported a 34 percent fall in fourth-quarter profit, hurt by a premium payment and price declines in nickel and cobalt.

For the October-December quarter, net profit fell to C$28.1 million, or 9 Canadian cents a share, from C$42.7 million, or 14 Canadian cents a share.

Revenue for Sherritt, which has operations in Canada, Cuba, Madagascar, Pakistan and Spain, rose 11 percent to C$536.8 million.

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