Nordgold Posts Loss

Russian gold miner Nordgold recorded a first-half net loss Friday after taking a $218 million impairment charge due to the falling gold price.

The charge pushed the company to a net loss of $175 million, compared to net income of $65 million for the same period a year ago.

Despite the loss, the company plans to pay a dividend of 4.05 U.S. cents per share, bringing the total payout to $15 million, it added.