Dannemora Mineral AB: Interim Report January - June 2009
- With global demand for steel having stabilised in the second quarter, many steel companies entered the third quarter in a position to raise their prices.
- Iron ore imports to China hit a record high in the first half of 2009, increasing by almost 32% in July.
- This year's iron ore price negotiations (benchmark) resulted in smaller price declines than the market had expected. The Indian iron ore spot price rose sharply during summer and is now considerably over the benchmark price.
- 26 May saw the start of the draining of the Dannemora mine. The pumps which have been installed in the existing central shaft will drain the mine down to the 460 metre level. The programme is expected to be completed in March 2010.
- Profit/loss after net financial items for the period January-June 2009 amounted to SEK -11.6 (-10.5) million.
- The period's cash flow from operating activities was SEK -16.6 (-19.0) million.
- Investments in the period January - June 2009 amounted to SEK 46.0 (22.5) million.
- Cash & cash equivalents at 30 June 2009 amounted to SEK 84.6 (36.7) million.
The full report with tables can be downloaded from the following link: