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Wealth of US-educated and media-shy tycoon dented by weak nickel prices, as fortune comes from his stake in Nickel Asia, the country's largest nickel producer, where he is vice chairman.
Nickel prices doubled.
LME nickel prices will spike.
Nickel prices have sunk to their lowest for two years.
The company cited growing nickel inventories and low nickel prices.
Nickel prices climbed after the purchase and the refinery now turns a nice profit.
Copper and nickel prices have doubled to reach 11-month highs.
The nickel prices were introduced as a short-term gimmick to draw traffic.
It ran into financial difficulties after suffering production problems and weak nickel prices.
Besides higher nickel prices, they have complained of rising energy costs and adverse currency movements.
Similar(1)
He produced charts showing the decline of the nickel price to below Queensland Nickel's cost of production, despite the company almost halving that cost since 2013.
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