Sherritt swings to loss, but Pathe optimistic

Apr 30, 2014 | 05:48 PM | Rey Mashayekhi

Tags  Sherritt Internatioanl, nickel, Ambatovy, earnings report, coal, David Pathe, Rey Mashayekhi

NEW YORK — Sherritt International Corp. posted a first-quarter net loss of Canadian $48.2 million ($43.97 million), despite positive production figures from its Ambatovy Mine in Madagascar and the recent sale of its coal business.

The Toronto-based miner noted in its financial report April 30 that earnings were "affected by the impact of higher financing expense related to foreign exchange losses as a result of the weakening Canadian dollar," as well as depreciation, depletion and amortization being....

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