Western Areas adds A$13m to bottom line

Nickel miner Western Areas has reported a A$13.3-million increase in the post tax earnings for 2017, on the back of discontinuing to equity account its investment in Bluejay Mining. The company told shareholders that it had ceased to equity account its investment in Bluejay with the company’s ownership and voting interest reducing to below 20% following finalization of all merger conditions and accumulated dilution since the merger between FinnAust Mining and Bluejay was announced in 2016.