PERTH (miningweekly.com) – ASX-listed Mineral Resources has reported a 24% increase in revenue for the 2017 financial year, as its Mount Marion spodumene operation, in Western Australia, ramped up to full capacity.
Revenue increased from A$1.1-billion in 2016 to A$1.4-billion, while earnings before interest, taxes, depreciation and amortisation increased from A$286-million to A$464-million.
Net profit after tax over the same period increased from A$110-million to A$201-million.
“The financial results continue to reflect the financial strength and stability of the group’s core mining services business, together with its ability to successfully bring new services and commodity projects online in record time,” said Mineral Resources MD Chris Ellison.
“The impact of the growth delivered this year will be seen in 2018, and beyond, as the company creates long-term earnings capacity through the development of world-class resource assets.”