UPDATE 2-FNX Mining "ready to grow", could add assets-CEO

* Q3 loss C$0.65/shr vs yr-ago loss C$0.31/shr

* Company "back to growth mode"

* Could seek dormant assets in Sudbury area

By Cameron French

TORONTO, Nov 12 (Reuters) - Canadian nickel and copper miner FNX Mining (FNX.TO) is ready to focus on growth after a challenging year, and could look to add more assets in the Sudbury, Ontario metals mining area, the company's chief executive said on Thursday.

FNX suspended nickel production last December due to falling prices, and its copper and precious metals output has been complicated by shutdowns at Vale Inco (VALE5.SA) operations that processes FNX ore.

But with metal prices up this year, and the company nearly ready to start mining its prized Levack Footwall deposit in the Sudbury area, the time could be right to think about expanding, CEO Terry MacGibbon said on a conference call.

"Last year at this time we went into survival mode. We have now gone back to growth mode," he said.

The company grabbed a foothold in Sudbury in 2002 when it bought up dormant mines from nickel miner Inco, which has since been acquired by Vale. Xstrata (XTA.L) also has assets in the area, following its 2006 purchase of Falconbridge.