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Gold/Mining/Energy : Mining News of Note

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To: LoneClone who wrote (4276)	7/21/2007 1:59:32 PM
From: LoneClone	Read Replies (1) of 193686

Palabora Mining expects H1 earnings to rise as much as 47% miningweekly.co.za The owner of South Africa’s largest copper mine, Palabora Mining, said that its basic earnings for the six months to June 30 could be between 42% as 47% higher. The company, which is majority owned by Rio Tinto PLC, said in statement on Friday that basic earnings could increase to between R368-million and R380-million share from the corresponding period’s R258-million. Headline earnings were expected to increase by between 32% and 36% to as much as R380-million, from R278-million in the same period last year. Palabora said its six-month net debt is expected to have declined to between R279 million and R287 million from R2.096 billion the year before, while cash and cash equivalents is seen having risen to between R970 million and R1 billion from R401 million in 2006. The results would be published on, or about, July 30.

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