African Minerals cuts output and takes $56 mln charge

African Minerals cut its production guidance for the year, took a charge of nearly $60 million and pulled back from plans to expand its flagship project on Wednesday. Shares in the company opened down 10 percent, before steadying to trade 7 percent lower, with analysts saying the results were disappointing and the uncertainty over expansion plans would weigh on the stock. Chief Executive Bernie …

Powered by WPeMatico

This entry was posted in Business. Bookmark the permalink.

Comments are closed.