Strong June qtr. performance

  1. 635 Posts.
    Good to see MIM continuing in a positive direction.
    The new coal contract negotiations should also add to improved results in the year to come.

    MIM continues high levels of production in June qtr
    09:50, Wednesday, 24 July 2002

    Sydney - Wednesday - July 24: (RWE) - MIM Holdings Ltd today
    reported strong operating performances in the June quarter, continuing
    the consistently high levels of production throughout the year.
    Annual production increased for all of the company's core
    products - copper, coal, zinc, lead and gold - for the year.
    June quarter and annual production of coal rose at both the NCA
    and Oaky Creek projects with total product coal up 19 per cent from the
    previous year.
    Mount Isa smelter and Townsville refinery copper output recorded
    their highest annual outputs while Alumbrera's annual production of
    copper and gold increased 17 per cent and 32 per cent respectively.
    Gold production from Alumbrera, Ernest Henry and Ravenswood
    increased to 499,000 ounces.
    Production of zinc and lead was higher at Mount Isa, McArthur
    River and the Northfleet (UK) lead refinery.
    MIM also announced it was proceeding to the second stage of
    feasilibility for its Rolleston thermal coalmine in central Queensland,
    at a cost of $15 million.
    Shares in MIM yesterday rose 2c to $1.26.
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