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Thursday, 31/05/2012 10:13

MIC: Explanation for negative profit in 2011

Quang Nam Mineral Industry Corporation explained for negative profit in 2011 as follows:

-Due to increase in tax on exploitation of natural resources and price of input materials, the Company’s operation met many difficulties.

-Exploiting minerals in Lao was not implemented as planned.

-The Company set up allowances for decreasing price of inventory, uncollected receivables and long-term investment.

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