Coalcorp reports net losses of 76.2 million dollars

摘要

Canada's Coalcorp, the fourth largest mining company in Colombia, reported a net loss of 76.2 million dollars for the year to the end of June 2007 as it was hit by foreign exchange losses as well as consulting and engineering fees. The loss compares to a loss of 2.8 million dollars last year. Coalcorp said in a statement: "A number of non-operating items contributed to the loss reported in the period. A non-cash unrealised foreign exchange loss of 24.3 million dollars was recorded to reflect the strengthening of the Colombian peso relative to the US dollar. Also, general and administrative expenses totaled 14.6 million dollars with a portion of this amount related to one-time consulting and engineering fees related to the various projects currently underway".