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CNNC International expects to narrow H1 loss


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Essential Metals & Mining Insights - January 2021

Industry Top Trends 2021: Metals and Mining

CNNC International expects to narrow H1 loss

CNNCInternational Ltd. said July 15 that it expects to narrow its lossin the first half of the year compared to the loss posted in the corresponding2015 period.

In the first half of 2015, CNNC shared the loss of itsassociate Société des Minesd'Azelik SA or Somina, and had made full provision of aboutHK$119.9 million for its investment equity of and loan receivables from thelatter.

As the carrying amount of interest in Somina was nil by2015-end, the group is no longer required to share any further losses this yearif any, until it becomes a positive net asset position.

The group's interim financial results are expected to bereleased before the end of August.