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Frontier Mining hit by lower production

Frontier Mining hit by lower production

Frontier Mining’s (LON:FML) sales were affected by lower levels of production at its Benkala copper mine in Kazakhstan in the latter part of 2014.

While it sold 1,276 tonnes of copper cathode over the year, the reduced production meant sales were insufficient to cover production costs.

Benkala has now closed for the winter, which will also allow it to conserve capital and continue talks over finding a partner for the mine, said Frontier.

During 2015, the miner plans to restructure its existing debt facilities and secure a new investor to enable the company to increase copper cathode production levels at Benkala.

Shares fell heavily to 0.185p.

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Frontier Mining Timeline

Newswire
January 23 2015

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