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Assore sees lower earnings

Johannesburg - Mining company Assore (ASR) on Tuesday announced that it had been affected by recent negative market conditions for manganese ore, ferromanganese and charge chrome, resulting in lower sales volumes and lower metal prices.

Thus, headline and attributable earnings for the half-year ended December 31, 2005 were anticipated to be between R140m and R150m compared with headline earnings of R195.5m and attributable earnings of R199.8m in the half-year ended December 2004.

Assore said it expected to issue its interim results for the six months ended December 31 2005 by the middle of March 2006.

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