WMC interim earnings down 24%

WMC Ltd shares have dropped to a two-month low after the diversified miner said its first-half net income was down 24% amid falling metal prices and slower global demand.

Net income fell to $303.9 million in the six months ended June 30, or 24.9c per share, compared to $402.7 million, or 35.1c a share, a year earlier.