Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.
ASX-listed Mount Gibson Iron has swung into the red during the six months ending December, with the miner reporting a net loss after tax of A$869.8-million, compared with a net profit of A$78.3-million in the first half of 2014. The net loss comes after Mount Gibson previously flagged a non-cash impairment charge of A$946.3-million, which came on the back of the declining market conditions, as well as recent development at Mount Gibson’s Koolan Island project, which was idled in December last year.
ASX-listed Mount Gibson Iron has swung into the red during the six months ending December, with the miner reporting a net loss after tax of A$869.8-million, compared with a net profit of A$78.3-million in the first half of 2014. The net loss comes after Mount Gibson previously flagged a non-cash impairment charge of A$946.3-million, which came on the back of the declining market conditions, as well as recent development at Mount Gibson’s Koolan Island project, which was idled in December last year.
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