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Nickel has been one of the metals hardest hit by the current economic downturn. The price has sunk from a 52-week high of $13.20/lb to a low of $5.27/lb on December 28th. It ends the year trading at $8.42/lb.

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Here is one company that is scaling back.....

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The Bucko Lake Mine in Manitoba is scaling back operations due to a fall in nickel prices.

The mine’s owner, Vancouver-based CaNickel Mining (formerly Crowflight Minerals), said Thursday that ore production will be reduced from 600-700 tpd to 400-500 tpd. Reducing production is expected to save the company about $1 million per month and allow it to complete construction of the paste backfill plant and tailings facility expansion.

The mine near Waboden, Manitoba, re-opened in June.