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Gold/Mining/Energy : Mining News of Note -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (36476)	5/1/2009 9:36:15 PM
From: LoneClone	Read Replies (1) \| Respond to of 193231

Aditya Birla posts $76m full-year loss 1-May-09 by Rebecca Lawson wabusinessnews.com.au Perth-based Aditya Birla Minerals has reported a full-year net loss of $76 million as it halted production at two of its operations on the back of lower commodity prices. The loss for the full-year period to the end of March 2009 was in comparison to the previous year's net profit of $105 million. The result was on the back of a 44 per cent drop in sales from $663.7 million to $374 million During the year, Aditya Birla placed its Nifty copper oxide operation in WA and Mt Gordon copper in Queensland on care and maintenance. The Nifty copper sulphide mine continues to operate with production dropping 7 per cent on the previous year to 49,600 tonnes. Aditya Birla said production was marginally lower due to lower grades and reliability issues with the concentrator. The company had $2 million at the end of the reporting period. Shares in Aditya Birla closed down two cents to 34 cents today.