Rana Gruber ASA
OSE:RANA
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Rana Gruber ASA
Rana Gruber AS engages in iron ore mining and mineral processing. The company is headquartered in Mo I Rana, Nordland. The company went IPO on 2021-02-26. The firm operates iron ore mining and mineral processing to yield iron ore concentrates and specialised products. Rana Gruber’s production of iron ore concentrates is divided into three main products: hematite, magnetite, and the specialised product Colorana. The hematite production is concentrated to iron ore bulk products formulated for metallurgical applications. Magnetite from Rana Gruber is a chemical-free iron oxide concentrate. The specialised product Colorana is based on two types of magnetite concentrate and is used both for colorants and highly advanced products such as brake linings, magnetic stripes, and chemical processes.
Rana Gruber AS engages in iron ore mining and mineral processing. The company is headquartered in Mo I Rana, Nordland. The company went IPO on 2021-02-26. The firm operates iron ore mining and mineral processing to yield iron ore concentrates and specialised products. Rana Gruber’s production of iron ore concentrates is divided into three main products: hematite, magnetite, and the specialised product Colorana. The hematite production is concentrated to iron ore bulk products formulated for metallurgical applications. Magnetite from Rana Gruber is a chemical-free iron oxide concentrate. The specialised product Colorana is based on two types of magnetite concentrate and is used both for colorants and highly advanced products such as brake linings, magnetic stripes, and chemical processes.
Revenue Decline: Revenue fell to NOK 327 million, significantly below last year's NOK 547 million, mainly due to lower iron ore prices and reduced sales volumes.
Production Strength: Concentrate production reached 440,000 tonnes for the quarter and 913,000 tonnes for the first half, both above last year’s levels, showing operational strength.
Cost Control: Cash costs declined in Norwegian kroner terms but came in at USD 61 per tonne, above the long-term target, mainly due to currency effects and maintenance.
Dividend Maintained: The Board declared a NOK 0.66 per share dividend for the quarter, representing 70% of adjusted net profit.
Strategic Investment: Infrastructure investments at Stensundtjern and Storforshei are moving forward, to be financed with long-term loans and expected public support.
Financial Position: Cash position declined to NOK 27 million following tax, dividend payments, and CapEx, but the equity ratio remains strong at 61.2%.
Fe65 Production Timeline: Fe65 grade iron ore production is expected to ramp up by the end of 2025 following delayed equipment installation.
