Australia’s Mineral Commodities falls on bleak update from Tormin Mine
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Reuters
Australia’s Mineral Commodities falls on bleak update from Tormin Mine
** Shares of Mineral Commodities MRC.AX fall as much as 25% to A$0.021, their lowest since Feb 1
** The mining and development co says Tormin Mine in South Africa has performed below expectations so far in the March quarter 2024
** Tormin Mine is held by the co’s 50%-owned unit, Mineral Sands Resources (Pty) Ltd
** Co says its June-quarter 2024 deliveries may be impacted by reduced stocks of finished product and ramping up of replacement mobile equipment
** About 512,114 shares change hands, 2.5 times the 30-day average volume of shares
** Stock has fallen 12.5% this year, as of last close
Reporting by Sherin Sunny in Bengaluru
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