Ferrexpo considers disposal of entire stake in Ferrous Resources

jueves 30 de abril de 2015 02:43 GYT
 

LONDON, April 30 (Reuters) - Ukrainian miner Ferrexpo is considering a potential sale of its entire stake in Brazilian iron ore production company Ferrous Resources, after it posted a loss due to a steep fall in iron ore prices in the past few years.

The company said on Thursday that it would unconditionally tender its 15.51 percent stake in the firm for a total cash consideration of $41.8 million, which it said would be used for general corporate purposes.

It reported its share of Ferrous Resources' attributable losses before the tax for the year ended Dec. 31 was $9.7 million, out of a total loss of $62.6 million. (Reporting by Li-mei Hoang; Editing by David Holmes)