London Mining posts H1 core loss as iron prices slump

Thu Aug 21, 2014 2:21am EDT

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Aug 21 (Reuters) - London Mining Plc reported a core loss for the first half of the year, citing a fall in iron ore prices.

The miner also cut the top end of its full-year iron ore production forecast to 5.1 million wet metric tonnes from 5.4 million.

The company posted a loss of $10.8 million before interest, tax, depreciation and amortisation for the six months ended June 30, compared with a profit of $24.0 million a year earlier.

Revenue fell 22 percent to $110.6 million. (Reporting by Abhiram Nandakumar in Bangalore; Editing by Ted Kerr)

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