Australian iron ore development company BC Iron has announced its fiscal results for the first half ended December 31 of the financial year 2014-15, posting a net loss of A$97.3 million, compared to a net profit of A$69.9 million in the same period of the previous financial year.
In the given period, BC Iron's sales revenues decreased by 56 percent year on year to A$300.9 million, impacted by declining iron ore prices which have been partly offset by sustainable cost reductions. In addition, during the August-October period, the Nullagine iron ore joint venture was required to reduce its rate of production in order to manage product quality. Subsequent to this, the operation ramped back up to its nameplate production rate of 6 million mt per year during November.
BC Iron sees net loss in H1
Similar articles
US domestic scrap prices in November settled up $20-30/gt in the Midwest, the South, and the Southeast
15 Nov | Scrap & Raw Materials
US flat steel prices rise with high scrap, mill price increases and lower steel output
13 Nov | Flats and Slab
US and Brazilian BPI prices remain flat, yet an upturn is expected soon
13 Nov | Scrap & Raw Materials
US import long steel prices continue up on tight supply, new data confirms lower imports
13 Nov | Longs and Billet
Bid-offer gap for ex-Russia BPI in Turkey rises, sellers face higher costs, shipments from Arctic
13 Nov | Scrap & Raw Materials
Domestic long steel prices steady to up on higher scrap, mill price increases to continue
13 Nov | Longs and Billet