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PrintGlencore Xstrata to temporarily close theFalcondo nickel mine for the second time. The mine, located in the Dominican Republic, will reportedly close for an estimated two-to-three years due to falling nickel prices. It last closed in 2008 and reopened in 2011. This is a noteworthy blow to a mine that had long been expected to undergo significant expansion to extend the life of the mine despite ongoing environmental opposition. A U.N. panel had warned the project would threaten water, wildlife and wetlands in the area and Congress recently declared the area around the mine a national park. According to the company, it will be laying off 900 of 1,000 employees and about 700 contractors.
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