London Mining sees narrowing of net loss in H1

UK-based London Mining, a global diversified miner targeting the steel sector, has announced its financial results for the first half of 2013.
 
London Mining registered a net loss of $5 million in the first half, compared to a net loss of $18.6 million in the corresponding period of the previous year. The company's revenues amounted to $142.1 million, increasing by almost 2.5 times year on year, on total sales of 1,483,000 dry mt of iron ore concentrate.
 
London Mining stated that it commissioned and ramped up its second processing plant, achieving production of 1.5 million mt for the given period. Installed capacity is now 3.6 million mt and is on track for 5 million mt per year capacity by the end of the year.