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Nickel price weigh on Western Areas 2016 results

A significant reduction in the nickel price has dented Perth-based miner Western Areas’ revenue in the 2016 financial year, pushing the company into an after tax loss of A$29.78-million.
The 2016 loss compares with a profit of A$35.01-million in the 2015 financial year, Western Areas, which is the only nickel producing pure play company listed on the ASX, reported on Thursday.