Metals X Limited (ASX: MLX) has announced to suspend mining activities at Nifty Copper Operations after completing the operational review of Nifty Copper Operations. MLX has identified that it is unlikely to achieve the planned production at an acceptable cost.
- MLX would focus on 50% JV stake in a world class, long-life Renison Tin Operation, Tasmania.
- The Board is considering strategic options for Nifty to appoint external advisors.
By 01:18 PM AEST, MLX was trading at $0.1, down by 6.9% from the last close.