Australian iron ore development company BC Iron has announced its fiscal results for the financial year 2015-16 ended June 30.
Accordingly, BC Iron registered a net loss of A$80 million compared to a net loss of A$158.5 million in the previous financial year. In the given year, BC Iron's sales revenues amounted to A$151.3 million, down 46.2 percent year on year.
BC Iron stated that the key factors affecting its financial results were the ongoing downward pressure on iron ore prices and the temporary suspension of operations at its Nullagine joint venture. BC Iron also stated that it is currently assessing all of its strategic options in relation to the Nullagine joint venture, including a potential sale of its interest or a restart of operations.