August 6, 2010 / 1:30 PM / in 7 years

UPDATE 1-Consolidated Thompson posts Q2 loss

* Q2 loss C$0.12/shr

* Says to reach 8 mln ton annual iron ore production rate

Aug 6 (Reuters) - Consolidated Thompson Iron Mines Ltd CLM.TO posted a loss in a quarter that marked the start-up of its mining operations, and said it is on target to meet the 8 million ton annual iron ore production rate at its Bloom Lake project by the year end.

Consolidated Thompson, focused on the iron ore mining industry, recorded a second-quarter net loss of C$28.3 million or 12 Canadian cents a share.

Heading into the second half of the year, the company’s focus is to ramp up production at its Bloom Lake mining property and also accelerate its plans to double production to 16 million tons per year by the end of 2012.

In May, the company said it plans to double its production forecast at its Bloom Lake iron ore project. [ID:nSGE64I0LS]

Shares of the company closed at C$8.32 Thursday on the Toronto Stock Exchange. (Reporting by Isheeta Sanghi in Bangalore; Editing by Vyas Mohan)

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