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Essar Steel Minnesota reports $1.38 million operating loss for August
New York, Sept. 29 – Essar Steel Minnesota LLC reported a $1.38 million operating loss for August on zero mining revenue, according to its monthly operating report filed Friday with the U.S. Bankruptcy Court for the District of Delaware.
The net loss was also $1.38 million after $4,000 in interest income.
The company had $3.29 million in cash and cash equivalents as of Aug. 31.
The iron ore producer is based in Hibbing, Minn., and is part of India-based Essar Group. The company filed bankruptcy on July 8, 2016 under Chapter 11 case number 16-11626.
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