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CST Mining expects to record FY'15-16 loss

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CST Mining expects to record FY'15-16 loss

and its subsidiariessaid March 30 that it expects to record a loss for its financial year ended March31.

The revenuederived from the company's copper mining business for the 11-month period endedFeb. 29 was approximately US$42 million, a big cut from the US$109 million revenueposted in the previous financial year.

The companycites persistent low copper market prices and the reduced copper volume productionat its Lady Annie mine during the year as the main causes of the loss.

CST also notedthe fact that its Anthill project mining license has not been granted, but affirmsthat the company will closely monitor the market and consider what appropriate actionsit should take.

The companymentioned the possibility of further downscaling its copper mining operation size,further outsourcing of operational activities or the temporary suspension of productionfor the next few months.