2008 sends Minara into the red

LAST year was a tough one for nickel miner Minara Resources, with the falling nickel price, rising costs and hiccups like the Varanus Island gas explosion knocking the company into loss-making territory.

2008 sends Minara into the red 2008 sends Minara into the red 2008 sends Minara into the red 2008 sends Minara into the red 2008 sends Minara into the red

The company today reported a loss of $A19.8 million for 2008 after write-downs and allowances of $8.7 million, down from profits of $270.5 million in 2007.

Gross profits were a slender $8.

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