Arrium posts net loss of A$445.2 million for H1 FY 2012-13

Australia-based mining and materials company Arrium Limited has issued its financial results for the first half ended December 31 of the financial year 2012-13.
 
In the first half, Arrium posted a net loss of A$445.2 million, compared to a net loss of A$70.7 million in the corresponding period of the previous financial year. The company's sales revenues decreased by 6.32 percent to A$3.32 billion in the given period, compared to the first half of the previous year.
 
In the first six months, Arrium produced 5.23 million wet mt of iron ore, increasing by 66.7 percent year on year, while the company's shipments amounted to 1.82 million dry mt, up 210,000 dry mt year on year, including 130,000 dry mt from its Southern Iron operations.
 
Regarding its Port Whyalla expansion, Arrium stated that it has so far spent A$154 million, expecting the total expenditure to reach A$200 million. In line with Whyalla Port expansion, Arrium plans to double iron ore sales to 12 million mt per year by next July or August.