Thompson Creek Metals Takes $484.4 Hit in Fourth Quarter

Mining Weekly reported that Thompson Creek Metals announced a net loss of $484.4-million or $2.87 per diluted share on a $530.5-million noncash pretax write down related to the Endako molybdenum mine in B.C.

As quoted in the market report:

We recorded a significant fixed asset write down at our Endako mine during the fourth quarter, and our Endako management team is working diligently to address its operational challenges, which are expected to continue through the winter months,” CEO Kevin Loughrey said in a statement.

To view the whole Mining Weekly report, click here.