Iamgold posts strong net earnings for Q2

No Image

Canadian gold-miner Iamgold increased net earnings in the second quarter to P219 million, compared with a loss of P535 million a year earlier when it took a P616-million impairment charge related to its Mupane Mine near Francistown.

The BSE-listed company said in a statement that stripping out the effects of the impairment, profit rose 169 percent year-on-year, thanks to higher gold and niobium prices as well as slightly increased production levels.

Iamgold realised an average gold price of P5,777/oz compared with P4342/oz in the same period a year ago, and gold production rose to 255, 000 oz, from 251, 000 oz in the second quarter of 2007.

Editor's Comment
Women unite for progress

It underscores the indispensable role women play in our society, particularly in building strong households and nurturing families. The recognition of women as the bedrock of our communities is not just a sentiment; it's a call to action for all women to stand together and support each other in their endeavours.The society's aim to instil essential principles and knowledge for national development is crucial. By providing a platform for...

Have a Story? Send Us a tip
arrow up