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00975 MONGOL MINING
RTNominal down10.040 -0.320 (-3.089%)
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22/01/2013 08:17

Mongolian Mining (00975) sees turnaround to loss for FY2012

[ET Net News Agency, 22 January 2013] Mongolian Mining Corporation (00975) said it
expects the Group to record a consolidated loss for the year ended 31 December 2012 as
compared to a consolidated profit recorded for the previous financial year.
The expected turnaround to loss is mainly attributable to a decrease of prices for
coking coal products supplied by the Group due to market conditions in its principal
market, the People's Republic of China, as demand from steel mills and coke plants was
affected by global economic conditions, an increase in the Group's finance costs due to
the issue of guaranteed senior notes in March 2012, and an increase in the Group's costs
related to accounting for inventory loss provisions.
Its annual results announcement is expected to be published in March. (HL)

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