Minmet slashes losses

Mining group Minmet has announced post-tax losses for the year to the end of December 2005 of $2.1m (€1.6m), slashing the figure from the year before of $11.3m (€8.8m).

The company said today that it recorded second half profits after tax of $940,000 (€732,000), helped by higher gold prices benefiting its Bjorkdal gold mine, as well as cost rationalisation measures introduced there in March last year.