Labrador Iron Mines registers $31.7M loss on lower prices

Nov 16, 2012 | 03:46 PM | Stacy Irish

Tags  Labrador Iron Mines, iron ore, John Kearney, China, Stacy Irish

PITTSBURGH — Labrador Iron Mines Holdings Ltd. reported a Canadian $31.71-million ($31.69-million) net loss in its fiscal second quarter ended Sept. 30.

The Toronto-based company attributed the loss to lower revenue due to the slowing global economy, weak iron ore demand and a 33-percent fall in spot iron ore prices c.f.r. China between June and August. Revenue in the fiscal second quarter fell to C$33.03....

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