March 21 (Reuters) – Canada’s royalty and metal streaming
company Franco-Nevada recorded a higher quarterly loss,
hurt by impairment charges at two mines.
For the fourth quarter, the company’s loss rose to C$105.4
million, or 80 Canadian cents a share, from C$17.2 million, or
15 Canadian cents a share, a year ago.
Revenue rose about 37 percent to C$118.5 million.
Franco-Nevada said it recorded impairment charges of C$152.4
million on its Ezulwini mine in South Africa and Podolsky mine
in Sudbury, Canada.
Canadian miner Quadra FNX, which owns the Podolsky
mine had earlier announced the mine’s closure.
Shares of Franco-Nevada closed at C$41.35 on Wednesday on
the Toronto Stock Exchange.
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