Mirabela Nickel Provides Updates on its Nickel Production

Mirabela Nickel Limited has provided a production update for October and November 2010.

Mirabela has recorded a strong improvement in production for October and November with the following key results for the two months:

• Total material mined of 6.4 million tonnes;
• Total ore processed of 812,000 tonnes, representing an annualised throughput rate of 4.9 million tonnes per annum  - above the 4.6Mtpa plant nameplate capacity;
• Average plant nickel recovery of 58%, with November average nickel recovery of 61%;
• Average nickel feed grade of 0.50%, including 20% of low grade feed (not classified as ore) averaging 0.3% nickel grade;
• Total production of 2,378 tonnes of nickel in concentrate;
• Total sales of 2,072 tonnes of nickel in concentrate.

Year to date production is 9,077 tonnes of nickel in concentrate. The Company is on track to achieve, or better, its 2010 full year production guidance of 9,500 to 10,000 tonnes of nickel in concentrate.