Grange Resources H1 profit reaches $55M

Company News

Grange Resources Limited (ASX:GRR) has reported a $55.4 million half year net profit.

CEO Richard Mehan says the miner managed to achieve better ore grades, pellet production and lower production costs in the six months to June, highlighting the performance of its North Pit mine in Tasmania.

Mr Mehan said that the company finds itself in a strong position to grow due to increased production, operating cash inflows, a strong development project and zero net debt.

Grange has declared an unfranked interim dividend of 1 cent per share.

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