Latest news with #GrangeResources
ABC News
2 days ago
- Business
- ABC News
Tasmania's open-cut Savage River mine to shift underground in bid to be net zero by 2035
A 57-year-old mine in Tasmania's north-west could be digging between a rock and a hard place as it tries to sure up its future, but the move may come at the cost of hundreds of jobs. Mining company Grange Resources has plans to shift its Savage River iron ore operations from an open-cut mine to an underground mining method known as block cave. The process involves undercutting the ore and allowing gravity to break up the blocks, minimising the need for blasting. Currently, ore is dug from the pit at Savage River, turned into slurry and piped about 85 kilometres to a pellet processing plant to be then shipped out across the world. Grange Resources' chief operating officer, Ben Maynard, said the move underground would have several benefits, including improving the longevity and carbon footprint of the mine. "By moving underground, combined with a number of other initiatives that we have underway, we can potentially halve our carbon emissions by 2030 and be net zero by 2035," Mr Maynard said. "One of the challenges with an open pit is that as it gets larger and deeper, the waste dumps get further away, and our costs increase. We use more and more diesel. "This underground transition represents a real opportunity to reduce our operating costs, set the mine up for a sustainable future and significantly reduce our carbon emissions." He said the project would cost more than $900 million, with a final investment decision expected by the end of the year. However, the operational shift is expected to slash the 450-strong mining workforce by about two-thirds. The mine and its associated pellet plant at Port Latta on the state's north-west coast employs about 700 people, making it one of the region's single-largest employers. Mr Maynard said job numbers would increase initially before a "gradual" decline, starting from about 2030 as the company wound down its open-cut operations. Employees would be reallocated to different positions, where possible. "At the moment … we're still working through the plans of what that would look like and it is quite a way down the track," he said. Tasmanian Minerals, Manufacturing and Energy Council (TMEC) chief executive, Ray Mostogl, said the reduction came down to the "fundamental difference" between open-cut and underground mining. "The long-term sustainability of Grange is critical for both the organisation and the state, and that does involve fewer roles," Mr Mostogl said. The Australian Workers' Union (AWU) said it had sought urgent discussions with the company. AWU assistant branch secretary, Robert Flanagan, said Savage River was the only open-cut mine in Tasmania, and therefore some skills would not be transferable. "There are many things we don't know, and until we have detailed discussions with the company, things are not particularly clear at this time," he said. Mr Mostogl said with potential restarts on the horizon for Queenstown's Mount Lyell copper mine and Zeehan's Avebury nickel mine, there would likely be mining jobs in the future. "There's usually a reciprocal mine looking for people," he said.
Yahoo
12-05-2025
- Business
- Yahoo
Investors in Grange Resources (ASX:GRR) have unfortunately lost 83% over the last three years
As an investor, mistakes are inevitable. But really big losses can really drag down an overall portfolio. So take a moment to sympathize with the long term shareholders of Grange Resources Limited (ASX:GRR), who have seen the share price tank a massive 84% over a three year period. That'd be enough to cause even the strongest minds some disquiet. The more recent news is of little comfort, with the share price down 54% in a year. Furthermore, it's down 16% in about a quarter. That's not much fun for holders. We really hope anyone holding through that price crash has a diversified portfolio. Even when you lose money, you don't have to lose the lesson. It's worthwhile assessing if the company's economics have been moving in lockstep with these underwhelming shareholder returns, or if there is some disparity between the two. So let's do just that. Our free stock report includes 3 warning signs investors should be aware of before investing in Grange Resources. Read for free now. There is no denying that markets are sometimes efficient, but prices do not always reflect underlying business performance. By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time. Grange Resources saw its EPS decline at a compound rate of 43% per year, over the last three years. This fall in EPS isn't far from the rate of share price decline, which was 46% per year. That suggests that the market sentiment around the company hasn't changed much over that time, despite the disappointment. Rather, the share price has approximately tracked EPS growth. You can see below how EPS has changed over time (discover the exact values by clicking on the image). This free interactive report on Grange Resources' earnings, revenue and cash flow is a great place to start, if you want to investigate the stock further. Grange Resources shareholders are down 53% for the year (even including dividends), but the market itself is up 8.8%. Even the share prices of good stocks drop sometimes, but we want to see improvements in the fundamental metrics of a business, before getting too interested. On the bright side, long term shareholders have made money, with a gain of 5% per year over half a decade. If the fundamental data continues to indicate long term sustainable growth, the current sell-off could be an opportunity worth considering. While it is well worth considering the different impacts that market conditions can have on the share price, there are other factors that are even more important. To that end, you should learn about the 3 warning signs we've spotted with Grange Resources (including 1 which is concerning) . But note: Grange Resources may not be the best stock to buy. So take a peek at this free list of interesting companies with past earnings growth (and further growth forecast). Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on Australian exchanges. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Yahoo
18-02-2025
- Business
- Yahoo
3 ASX Dividend Stocks Offering Up To 8.1% Yield
The Australian market is currently navigating a landscape shaped by recent interest rate cuts from the RBA and mixed sector performances, with healthcare and IT showing gains while energy faces challenges. In this environment, dividend stocks can offer stability and income potential, making them an attractive consideration for investors seeking to balance growth with reliable returns. Name Dividend Yield Dividend Rating Fortescue (ASX:FMG) 9.80% ★★★★★☆ Super Retail Group (ASX:SUL) 7.20% ★★★★★☆ Fiducian Group (ASX:FID) 3.91% ★★★★★☆ Nick Scali (ASX:NCK) 3.41% ★★★★★☆ MFF Capital Investments (ASX:MFF) 3.35% ★★★★★☆ Premier Investments (ASX:PMV) 5.82% ★★★★★☆ National Storage REIT (ASX:NSR) 4.85% ★★★★★☆ New Hope (ASX:NHC) 8.76% ★★★★☆☆ Sugar Terminals (NSX:SUG) 7.77% ★★★★☆☆ Grange Resources (ASX:GRR) 8.16% ★★★★☆☆ Click here to see the full list of 30 stocks from our Top ASX Dividend Stocks screener. Let's uncover some gems from our specialized screener. Simply Wall St Dividend Rating: ★★★★☆☆ Overview: Grange Resources Limited operates an integrated iron ore mining and pellet production business in Australia and internationally, with a market cap of A$283.55 million. Operations: Grange Resources Limited generates revenue primarily from its ore mining segment, which amounts to A$570.41 million. Dividend Yield: 8.2% Grange Resources offers a high dividend yield of 8.16%, placing it in the top 25% of Australian dividend payers. However, its dividends have been volatile and unreliable over the past decade, with no growth in payments during this period. Despite this, the company's low payout ratios—21.8% from earnings and 11.6% from cash flows—indicate that current dividends are well-covered and sustainable based on financial metrics. Get an in-depth perspective on Grange Resources' performance by reading our dividend report here. The valuation report we've compiled suggests that Grange Resources' current price could be quite moderate. Simply Wall St Dividend Rating: ★★★★☆☆ Overview: Jumbo Interactive Limited operates in the retail of lottery tickets via internet and mobile platforms across Australia, the United Kingdom, Canada, Fiji, and internationally, with a market cap of A$851.06 million. Operations: Jumbo Interactive Limited generates revenue through its segments of Managed Services (A$25.84 million), Lottery Retailing (A$123.40 million), and Software-As-A-Service (SaaS) (A$50.73 million). Dividend Yield: 4% Jumbo Interactive's dividend yield of 4.01% is below the top tier in Australia but remains covered by earnings and cash flows, with payout ratios of 79.1% and 63.2%, respectively, suggesting sustainability. Despite a history of volatility in its dividends over the past decade, payments have increased during this period. The stock trades at good value compared to peers and is significantly undervalued against its estimated fair value, offering potential appeal to investors seeking growth alongside dividends. Take a closer look at Jumbo Interactive's potential here in our dividend report. Insights from our recent valuation report point to the potential undervaluation of Jumbo Interactive shares in the market. Simply Wall St Dividend Rating: ★★★★☆☆ Overview: Lycopodium Limited is an Australian company offering engineering and project delivery services in the resources, rail infrastructure, and industrial processes sectors, with a market cap of A$442.46 million. Operations: Lycopodium Limited's revenue is primarily derived from its resources segment at A$366.49 million, with additional contributions from process industries at A$11.45 million and rail infrastructure at A$10.21 million. Dividend Yield: 6.8% Lycopodium's dividend yield of 6.8% is among the top 25% in Australia, yet its sustainability is questionable due to a high cash payout ratio of 122.9%, indicating dividends aren't well covered by cash flows. Despite an increase over the past decade, dividend payments have been volatile and unreliable. The stock's price-to-earnings ratio of 8.7x suggests good value compared to the broader market, though recent insider selling may raise concerns for some investors. Click here and access our complete dividend analysis report to understand the dynamics of Lycopodium. Our valuation report unveils the possibility Lycopodium's shares may be trading at a premium. Explore the 30 names from our Top ASX Dividend Stocks screener here. Shareholder in one or more of these companies? Ensure you're never caught off-guard by adding your portfolio in Simply Wall St for timely alerts on significant stock developments. Enhance your investing ability with the Simply Wall St app and enjoy free access to essential market intelligence spanning every continent. Explore high-performing small cap companies that haven't yet garnered significant analyst attention. Fuel your portfolio with companies showing strong growth potential, backed by optimistic outlooks both from analysts and management. Find companies with promising cash flow potential yet trading below their fair value. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include ASX:GRR ASX:JIN and ASX:LYL. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@
