Mirabela Nickel Limited - Company Update

PERTH, Australia, Nov. 4, 2013 /CNW/ - Mirabela Nickel Limited (Mirabela or 
the Company) (ASX: MBN) wishes to provide the following update. 
Mirabela previously announced that one of its two customers, Votorantim Metais 
Niquel S.A. (Votorantim), had provided notice to Mirabela advising that its 
concentrate sales agreement with Mirabela (Sales Agreement) would terminate at 
the end of November 2013. Mirabela subsequently announced that following the 
receipt of legal advice and discussions with Votorantim, Votorantim confirmed 
to the Company in writing that: its purported termination of the Sales 
Agreement was invalid; the Sales Agreement remained on foot; it was committed 
to a minimum level of concentrate deliveries for the months of October and 
November; and that it intended to comply with its obligations under the Sales 
Agreement until the end of 2014. 
Mirabela has now received notice from Votorantim that the main transformer at 
its Fortaleza smelter has malfunctioned and as such the electric furnace is 
not able to operate. Votorantim has claimed that these circumstances are an 
event of force majeure and that as a result it is not currently obligated to 
purchase nickel concentrate pursuant to the Sales Agreement. 
The Company is taking legal advice on its position regarding a claimed force 
majeure and in particular the status of a force majeure when Votorantim closes 
their smelter at the end of November 2013 and cease trying to remedy the cause 
of the claimed force majeure. 
Mirabela is also currently assessing the impact of this situation on its short 
term cash flow position and the status of the Company's US$50 million facility 
with Banco Bradesco S.A., which is secured by the Sales Agreement.
 

SOURCE  Mirabela Nickel Ltd. 
CONTACT DETAILS Mirabela Nickel Limited Telephone: +61 8 9324 1177 
info@mirabela.com.au 
To view this news release in HTML formatting, please use the following URL: 
http://www.newswire.ca/en/releases/archive/November2013/04/c9687.html 
CO: Mirabela Nickel Ltd.
NI: MNG LAW VERDICTS LAWVIEWS  
-0- Nov/04/2013 11:11 GMT
 
 
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