Iron Resource issued a profit warning, expecting a mid-term loss attributable to shareholders of approximately USD 90 million to 110 million
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IRC issued a profit warning, expecting a loss attributable to shareholders between USD 90 million and USD 110 million for the six months ending June 30, 2025, compared to a loss of USD 13.2 million in the same period of 2024. The increase in loss is mainly due to the K&S mine needing to recognize an asset impairment loss of approximately USD 120 million, caused by the appreciation of the Russian ruble leading to an increase in operating costs in USD terms. The impairment expense is non-cash in nature and does not affect cash flow
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