CBH Resources has announced a before tax loss of more than USD 40 million in 2008 against a USD 56 million profit in 2007.

CBH Resources which owns the Rasp Mine in Broken Hill and earlier in October 2008 launched a takeover bid for Perilya Limited's operations in the town.

Mr Jim Wall chairman of CBH Resources said that it has been a difficult year because of sharp falls in the price of zinc and lead. He added that if CBH gets Perilya's Broken Hill operations, there will be significant opportunities for the shareholders of both companies.