BC Iron corrects net loss

Company News

BC Iron Limited (ASX:BCI) has corrected its net loss to $18.2 million for the year ended 30 June 2015.
 
The iron ore miner had previously reported a full year loss of $43.1 million.
 
BC Iron says the change reflects a correction in the adjustment made for 'tax losses not recognised' and the tax effect of 'IOH transaction costs.'
 
The result is attributable to plummeting iron ore prices, alongside a series of operational issues at BC Iron's flagship Nullagine joint-venture project.
 
BC Iron had previously announced that it will not be paying a dividend.