Min Res posts H1 loss despite record exports

Company News

Mineral Resources Limited (ASX:MIN) has finished the first half with a $30 million net loss despite a slight uptick in export volumes.
 
The mining goods and services company says lower iron ore prices saw operational earnings dip by 5 per cent for the half as expected.
 
The period was also impacted by two significant one-off items, a $62.5 million deferred tax asset and a $15.9 million tax impairment.
 
Despite falling iron ore prices the company’s mining services division saw underlying earnings push higher while the mining sector saw record iron ore shipments of 5.5 million tonnes.
 
The company is confident that it’s well placed to take advantage of current market conditions with a balance sheet position that enables expansion and development. 
 
An interim dividend of 7.5c per share has been declared, fully franked. 

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