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Sep
01:00
Impairment costs push Grange Resources into losses
Australian iron ore miner and pellet producer Grange Resources has reported a net loss of AUD 79.79 million ($57m) over the first half of 2015. This is an improvement from a loss of AUD 162.15m in the same period of 2014. The latest loss was caused by an impairment on the value of mining assets but questions remain over the company’s profitability at current price levels, Kallanish notes.
Grange notes that it took an AUD 161.6m impairment on the value …
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