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Altura warns of widened losses for FY15

8th September 2015

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – Diversified junior Altura Mining warns that its net loss for the financial year ended June 30, has likely widened to between A$29-million and A$30-million, compared with a loss of A$7-million the year before.

The miner attributed the higher loss to operating losses at its Mt Webber iron-ore joint venture and the Delta coal mine, in Indonesia; a loss on the sale of the Mt Webber mine; impairments on the investment in the Delta mine; and write-offs of goodwill for the Asiadrill and Velseis companies.

Altura had reported a loss of A$27.5-million in the half-year ended December 2014.

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Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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