Falcondo closing

[NewsWhore]

The Swiss-British company Xstrata has announced the temporary closing of its nickel plant Falcondo. The company says that its costs have risen due to escalating petroleum prices at a time when the market prices for nickel has declined. Falcondo, located 80 kilometers from Santo Domingo, in Bonao, will continue maintenance and reparation projects during the temporary closing. The company will also switch from petroleum to coal-based energy use, said Ian Pearce, Xstrata company spokesman. He said that only 10% of the jobs will be cut. Falcondo presently employs 1,800 workers.

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