Minmet Plc shares plunge 16%

SHARES in Minmet Plc, the Dublin-based natural resources company, plunged 16% after saying it will cease pit mining at a site in northern Sweden.

Minmet will process the abundant low grade stockpiles, once pit mining comes to an end at its Bjorkdal mine, the company said in a Regulatory News Service statement.

The Swedish mine may now be sold, leased or put into a joint venture.