https://www.engineeringnews.co.za

Mineral Resources delivers record revenue

13th February 2014

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – Diversified miner and mining services provider Mineral Resources has reported record revenue and a 110% increase in earnings before interest, tax, depreciation and amortisation for the half-year to December.

Revenue for the interim period was up 86.4% to A$928.4-million, compared with the previous corresponding period, while earnings before interest, tax, depreciation and amortisation were up to A$305.1-million.

Net profit after tax for the half-year was up 107% on the previous corresponding period, to A$13.4-million.

Chairperson Peter Wade said on Thursday that contracting volumes during the period under review remained robust, although forward crushing volumes would likely be impacted by the company’s exit from iron-ore miner Fortescue’s Christmas Creek operation, in the Pilbara.

Wade said that mining operations, which includes iron-ore production from the Polaris Metals division, produced an outstanding half-year, with volumes up 90%.

He noted that the increased output was achieved from the continued improvements in production from existing mines, as well as the introduction and consolidation of new mines at Phil’s Creek and Spinifex Ridge.

Edited by Creamer Media Reporter

Comments

Showroom

Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 
Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (15/03/2024)
15th March 2024 By: Martin Creamer

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.087 0.137s - 156pq - 2rq
Subscribe Now