April 30, 2014 / 10:49 AM / 4 years ago

Miner Sherritt posts loss as costs rise on charge, weak Canadian dollar

(Reuters) - Canadian miner Sherritt International Corp (S.TO) reported a first-quarter loss compared with a profit a year earlier, due to costs related to a charge on a Madagascar mine and the weakening of Canadian dollar against the U.S. dollar.

    The company reported a net loss of C$48.2 million ($44 million), or 16 Canadian cents per share, in the quarter ended March 31, compared with a profit of C$23.1 million, or 8 Canadian cents per share, a year earlier.

    The Toronto-based company’s revenue rose 13 percent to C$120.9 million.

    ($1 = 1.10 Canadian dollars)

    Reporting By Shubhankar Chakravorty in Bangalore; Editing by Don Sebastian

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