CAPITAL MARKETS

MinRes slumps on big earnings miss

SHARES in Mineral Resources fell by as much as 13% this morning after the company’s half-year results missed estimates and the interim dividend was scrapped.

Chris Ellison speaking this morning

Chris Ellison speaking this morning

EBITDA dropped 80% to A$156 million due to the collapse in the iron ore price and higher discounts for lower-grade ore. MinRes posted an underlying net loss after tax of $36 million, down 108%, and...

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