Mincor Resources has reported falling profits, forcing the minor to reduce costs and cut output in response to the loss of confidence on global markets.

David Humann, chairman of the board of directors of the company, said: 

A 22 per cent drop in the average realised nickel price over the year had slashed the company's profit margin by 33 per cent this year, delivering a net profit of $64 million after tax.

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