Mineral Resources (MIN) is an Australian based mining service and processing company with operations in contract crushing, general mine services infrastructure provision and recovery of base metal concentrate for export sales. The Companys operations are supplemented by rehabilitation and sale of heavy duty crushing and processing equipment, hire of engineering and crushing fleet plant and workshop manufacture of polyethylene pipe fittings and components.
MIN expects continued growth in production and export within the resources sector to facilitate contracting, crushing and processing opportunities. The demand for steel related commodities continues with iron ore and manganese volumes and prices both firming. MIN has a strong, proprietary interest in the performance of these two minerals through its mineral processing operation and contracting arms. Operationally, MIN will focus on niche contracting markets of crushing and screening, mineral processing, pipelines and mine infrastructure. Mineral Resources reported NPAT of $20.17m for the year ended 30 June 2007. Revenues from ordinary activities were $148.85m. Diluted EPS was 16.9 cents. Net operating cash flow was $30.1m. The final dividend declared was 6.3 cents, taking the full year dividend to 9.5 cents. The company was admitted to the official list of ASX on 28 July 2006. The increased performance reflects the strong mining services and minerals market and a continuation of several new projects ahead of its prospectus forecasts. The outlook continues to be positive with the resources markets in iron and base metals expected to continue strongly as a result of demand from China and the other developing Asian and sub continent economies.