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Palabora mining Full-year loss of R82m expected

February 11 2013 at 08:00am

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Palabora Mining faced a loss for the year to December 2012, the refined copper producer warned on Friday. Palabora said it would post a headline loss of R82 million, or R1.71 a share, compared with headline earnings of R1.46 billion, or R30.36 a share, a year earlier. Rio Tinto and Anglo American announced last year that they had agreed to sell their 74.5 percent stake in Palabora to Chinese and South African entities in a deal that valued the company at R5.3bn. Results are due out tomorrow. The share fell 0.59 percent to R101.90 on Friday. – Dineo Faku


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