Mining company Mirabela Nickel has posted a first half $US37.2 million ($A36.1 million) net loss because of costs associated with ramping up operations at its flagship mine in Brazil.
The result compares to a $US17.5 million net loss for the first half in 2010.
The company's flagship Santa Rita mine in Brazil incurred a gross loss for the period of $US16.1 million compared to a gross profit of $US523,000 last year.
No dividend was paid or proposed during the period.
Mirabela sold 5,993 tonnes of nickel and 1,930 tonnes of copper, contributing to gross sales of $US123.5 million, offset by treatment, refining and transport charges of $US23.1 million and cost of sales of $US116.5 million, the company said.
The higher cost of sales during the period was mainly due to a stronger (Brazil) real/US dollar exchange rate and increased operational costs reflective of the its ramp-up to full production, it said.
It said its immediate focus was the expansion of its processing plant and crusher to 7.2 million tonnes a year.
