Orica takes $48M loss

AUSTRALIA’S largest mining, equipment, technology and services player Orica has taken a A$48 million loss, due largely to technical issues at its Burrup technical ammonium nitrate plant in northern Western Australia.

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Orica CEO Alberto Calderon

That is despite sales revenue growing 7% to $5.4 billion for the year ending September 30.

Earnings before interest, tax, depreciation and amortisation were down 1% to $885 million.