20
Mar
01:30
Southern Alliance Mining losses shrink on improved revenue
Malaysia-based iron ore producer Southern Alliance Mining has reported a lower net loss in its financial first half ended 31 January, 2024 (FY24), amid improved revenue, Kallanish notes.
The firm says in a statement that its net loss after tax narrowed to MYR 1.2 million ($250,000) from MYR 7 million a year ago.
The firm’s revenue surged 76.7% from a low base in the first half of FY23, due to higher volume of iron ore produced and sold.
The higher producti…
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Very good overview of the weekly steel market.
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