Boliden’s Q2 earnings disappoint despite near fivefold rise
The miner said higher metal prices boosted its earnings, while lower treatment charges and metal premiums weighed on the result.
Newswires on Monday report a ship operated by Russian mining company Polymetal with 700 tonnes of gold ore on board has gone missing.
The ship with a 9-member crew sent a distress call on Sunday from the Sea of Okhotsk off Russia’s Pacific Coast.
London-listed Polymetal said it had used the route before to take ore from one facility to another to be processed, according to the NYT.
Businessweek reports the incident is unlikely to result in serious financial damage to Polymetal: “Based on Polymetal’s earlier estimate for the Avlayakan deposit, the lost cargo contained gold worth an estimated $800,000”.
4 Comments
robtcohen
If the loss indeed is the $800,000 estimate: Couldn’t movie/book story rights for more or less than a million dollars adequately compensate the insuror or Polymetal? Recalling vaguely such audience pleasers as that Brazilian angle. (Still no
extraditions? Why?)
So, the “Great Train Robbery,” also a supposed diamond theft–“Harrow Row(?),” and so many other depictions of thefts of art and valuables collections–fiction or not– that the intricate plot better not be too boring to an over-indulged mass audience. Cliche movie title: “Pirate Gold,” already taken(?), then never mind. But; the exciting gold color popcorn rights! BTW, since when did pirates ever steal gold?
zin yaw
Anyway the nine persons onboard must be rescued by all possible means.
Danman
So it does not affect the profits…… and the 9 families …… no credibility for a company with statements like this
zin yaw
About US$1140/-per ton worth of ore is equivalent to approx. 0.65oz per ton. not likely to be very serious if not for research purpose to determine associated constituents.