That made $154 million profit on $5.3 billion revenue in 2024. So about 1.1% (rounding up) return on capital.
While Fortescue (FMG), still not the largest Aussie mining outfit, made a profit of $5.6 billion on revenue of $18.2 billion in the same period, with assets of $30 billion, so about 19% (rounding up) return on capital.
But yeah, totally, MR is a mining "giant".
For some reason, I don't think emulating them would be a very good idea.
_Conflict of interest disclaimer:_ I did a consulting gig for FMG several years back, but have absolutely no dog in this fight aside from being sick to death of breathlessly naïve and exaggerated "reporting" any time some C-suiters do something stupid AF involving AI.
> $11.5B mining giant Mineral Resources
That made $154 million profit on $5.3 billion revenue in 2024. So about 1.1% (rounding up) return on capital.
While Fortescue (FMG), still not the largest Aussie mining outfit, made a profit of $5.6 billion on revenue of $18.2 billion in the same period, with assets of $30 billion, so about 19% (rounding up) return on capital.
But yeah, totally, MR is a mining "giant".
For some reason, I don't think emulating them would be a very good idea.
_Conflict of interest disclaimer:_ I did a consulting gig for FMG several years back, but have absolutely no dog in this fight aside from being sick to death of breathlessly naïve and exaggerated "reporting" any time some C-suiters do something stupid AF involving AI.
smh indeed
https://archive.is/20260716060153/https://www.smh.com.au/bus...