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aditya birla minerals ltd (ABY) Details

Aditya Birla Minerals Limited is engaged in exploring, mining, processing, and marketing copper metal in Australia. The company holds interest in the Birla Nifty copper mine located in the Great Sandy Desert Region of the East Pilbara in Western Australia; and the Birla Mt Gordon copper operation located in northwest Queensland. The company was founded in 2003 and is based in Perth, Australia. Aditya Birla Minerals Limited is a subsidiary of Hindalco Industries Limited.

aditya birla minerals ltd (ABY) Top Compensated Officers

Managing Director, Chief Executive Officer, D...
Total Annual Compensation: A$843.3K
Chief Financial Officer and Member of Investo...
Total Annual Compensation: A$182.8K
Head of Engineering & Project
Total Annual Compensation: A$267.3K
Group Chief Mining Engineer
Total Annual Compensation: A$161.8K
Corporate Finance Manager
Total Annual Compensation: A$122.2K
Compensation as of Fiscal Year 2014.

aditya birla minerals ltd (ABY) Key Developments

Aditya Birla Minerals Limited, Annual General Meeting, Aug 19, 2014

Aditya Birla Minerals Limited, Annual General Meeting, Aug 19, 2014., at 09:30 W. Australia Standard Time. Location: Duxton Hotel,. Agenda: To receive and consider the annual financial report of the Company for the financial year ended 31 March 2014; to consider adoption of remuneration report; and to consider reelection of officers.

Aditya Birla Minerals Limited Provides Update on Sinkhole

Aditya Birla Minerals Limited announced that the results of phase 1 probe drilling have been analysed. The geological and geotechnical interpretation of the aquifer and sinkhole intersections has been undertaken internally and observations summarized and reviewed by external consultants. The objective of phase 1 probe drilling was to establish three main issues: Establish the extent and status of the sinkhole; Confirm the extent and status of the aquifer Identify voids near or above open stopes that could potentially self-propagate into new sinkholes. The drilling results indicate that the main aquifer in the vicinity of the underground mine is the Upper Carbonate, which is commonly weathered, fractured and permeable. In comparison to the 2008 aquifer model (lithological boundary), the current probe drilling displays little variance to the previous model (lithological boundary-wise) above the 14 level. Similarly, there was no significant water flow intersected during the phase 1 drilling between the 12 and 14 level. Drilling into the sinkhole confirmed the pre-supposed location to be correct, though the fractured zone around it appears slightly larger. The sinkhole was observed to be filled with highly weathered and oxidised materials most likely from the near surface layer of the pit. The aquifer appears to have been largely drained or dried up to the 14-level. Further drilling in phase 2 will determine where this water may have remobilized to or still contained. The absence of water/liquid matter in the sinkhole significantly reduces the risk of inrush of water/mud under the current dry weather conditions. Phase 1 probe drilling has provided an improved understanding of the upper 12 and 14 levels. From the preliminary risk assessments, there is significant work required to re-establish the mine infrastructure on 12 level. There is minimal development possible on 14 level. The sequential extraction of stopes of 14 level implies leaving the 16 level stopes as a temporary pillar which presents its own challenges. Although unknown at this stage, the risk is either reducing the proportion of mining inventory on that level or failing to recover at all. Phase 2 drilling remains the critical path in completing the overall risk assessment of the mine. This drilling is progressing as planned and expected to be completed by mid-July 2014 as previously informed. The installation of seismic system on 12L and 14L is complete and commissioned successfully.

Aditya Birla Minerals Limited Reports Consolidated and Parent Earnings for the Year Ended March 31, 2014

Aditya Birla Minerals Limited reported consolidated and parent earnings for the year ended March 31, 2014. For the year on consolidated basis, reported total revenue of AUD 317,417,000 compared to AUD 502,333,000 a year ago. Loss before income tax was AUD 4,267,000 compared to AUD 14,461,000 a year ago. Net loss was AUD 224,000 or 0.07 cent basic and diluted per share compared to AUD 8,307,000 or 2.66 cents basic and diluted per share a year ago. Net cash flows from operating activates were AUD 53,623,000 compared to AUD 54,422,000 a year ago. Payments for plant and equipment were AUD 10,268,000 compared to AUD 24,217,000 a year ago. For the year on parent company basis, reported total revenue of AUD 3,195,000 compared to AUD 17,187,000 a year ago. Loss before income tax was AUD 65,000 compared to profit before income tax of AUD 16,868,000 a year ago. Net loss was AUD 47,000 compared to net profit of AUD 17,883,000 a year ago. Net cash flows from operating activates were AUD 4,251,000 compared to AUD 3,916,000 a year ago.


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