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 $6.5 billion on revenue of $17.62 billion in the same period, with assets of $48 billion, so about 14% (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.
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[ 3.4 ms ] story [ 14.7 ms ] threadThat 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 $6.5 billion on revenue of $17.62 billion in the same period, with assets of $48 billion, so about 14% (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.