---
title: "IRC boosts iron ore output but books heavy impairment-driven loss for 2025"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/280406420.md"
description: "IRC Limited reported a 23% increase in iron ore production to 2.93 million tonnes in 2025, with sales volume up 25%, despite a challenging price environment. However, the company faced a net loss of US$131.5 million due to a US$152.9 million impairment charge. The balance sheet was strengthened by a rights issue and loan repayments, positioning IRC to better handle market challenges. Analysts rate the stock as a Hold with a price target of HK$0.52."
datetime: "2026-03-25T00:09:01.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/280406420.md)
  - [en](https://longbridge.com/en/news/280406420.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/280406420.md)
---

# IRC boosts iron ore output but books heavy impairment-driven loss for 2025

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IRC ( (HK:1029) ) has shared an announcement.

IRC Limited reported strong operational progress in 2025, with iron ore production up 23% to 2.93 million tonnes and sales volume up 25%, driven by higher-quality ore from the Sutara deposit, improved recovery at the K&S processing plant, and the launch of its own mining fleet. These improvements reduced cash costs per tonne and lifted revenue to US$258.1 million, despite a weaker iron ore price environment.

Financially, the company posted a net loss of US$131.5 million after a US$152.9 million impairment charge on K&S, triggered mainly by rouble appreciation and a stronger outlook for rouble-denominated costs, even as adjusted EBITDA and underlying loss both improved. Cash and deposits fell due to loan repayments and capital expenditure, but a rights issue completed in early 2026 and full repayment of the MIC loan have strengthened the balance sheet, leaving IRC better positioned to weather ongoing market and currency headwinds and to benefit when iron ore conditions improve.

The most recent analyst rating on (HK:1029) stock is a Hold with a HK$0.52 price target. To see the full list of analyst forecasts on IRC stock, see the HK:1029 Stock Forecast page.

**More about IRC**

IRC Limited is a Hong Kong–incorporated resources company focused on iron ore mining and processing, primarily through its K&S project and the Sutara deposit. The group produces and sells iron ore concentrates, with operations exposed to global iron ore pricing and Russian rouble cost dynamics, positioning it as a regional supplier sensitive to commodity and currency volatility.

**Average Trading Volume:** 559,788

**Technical Sentiment Signal:** Sell

**Current Market Cap:** HK$1.04B

Learn more about 1029 stock on TipRanks’ Stock Analysis page.

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