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Kenmare in €30m loss

SHARES in the Dublin-based mining firm Kenmare Resources fell to their lowest level in a year yesterday after it posted a pre-tax loss of $42m (€30m), down from a $52.7m (€30m) profit in 2013.

Revenue also fell to $138m (€99m) from $234.6m (3168m), and exchange losses rose to $6.5m (34.7m) from $641,000 (3461,000).

The firm has invested heavily in its Moma mine in Mozambique. Last year marked the final year of major capital expenditure in the operation.