Talvivaara warns of losses

Finnish miner Talvivaara warned of an operating loss for the first quarter yesterday and said its annual nickel production would be at the low end of its forecast range after a new recycling system and a fatal accident at a plant hurt output. The company reiterated its 2012 nickel production forecast of 25,000 to 30,000 tonnes, but said it will likely be near the bottom end of the range. The company said lower nickel prices in February and March also hit its quarterly results, which are due to be announced on 25 April.