W.M.C. helped by Inco strike
NZPA Sydney The eight-month strike which stopped nickel, supplies from the world’s largest nickel producer, Inco of Canada, helped more than double the group net trading profit of Western Mining Corporation, Ltd, in the year to June 30. The profit rose 144 per cent to sAust24.6M.
In the final six months the trading profit rose from $4.3M to $12.3M, as the lack of nickel supplies from Inco upset world nickel markets, The annual dividend rate has been increased from 3c to 7c a share (14 per cent). Sales rose 70.4 per cent to $211.9M, which included a 77 per cent increase to 5195.2 M in nickel sales revenue.
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Press, 22 August 1979, Page 19
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113W.M.C. helped by Inco strike Press, 22 August 1979, Page 19
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