EXPLORATION group Aminex has reported a loss of $970,000 (£600,000) in the first half of the year even though turnover in the period was up 26 per cent to $7.39 million.

Chairman, Mr Peter Elwes blamed the loss on higher costs in the group's Russian interests and the expansion of its oilfield services division. The increase in turnover was due to increased sales in this oilfield services division, increased oil production and higher oil prices.