Financial Summary & Key Facts

Minara Resources Limited is Australia's second largest nickel producer, and one of the top ten in the world.

Minara owns and operates the Murrin Murrin Nickel Cobalt Joint Venture project (60 percent Minara, 40 percent Glencore International AG). Murrin Murrin is a world class hydrometallurgical project, using sulphuric acid in high temperature, high pressure autoclave vessels to heap leach nickel and cobalt from low grade lateritic (oxidised) ores.

Production at Murrin Murrin in 2007 totalled 27,585 tonnes of nickel and 1,884 tonnes of cobalt, reflecting reductions of around 10% from the previous year's record levels.  This was an expected result following the seven-week major statutory shutdown in November 2007.

Revenue from operations in 2007 hit a record level of $770 million on the back of continuing strength in the nickel market and Minara recorded a pre-tax profit for the year of $369.2 million with a net profit of $272.4 million. In addition, dividends of 40 cents per share were distributed to shareholders representing solid performance within the framework of the year's focus on consolidation and future growth.

Minara prides itself on innovation, which drove the other key operational focus for the company in 2007 - Minara's heap leach trial. The company's heap leach demonstration plant is designed to produce a further 2000 tonnes of nickel and 150 tonnes of cobalt per annum with the ability to be expanded to 10,000 tonnes.

The success of the heap leach trial has allowed Minara to better utilise its resource base at Murrin Murrin by targeting existing medium and low grade ore stockpiles. Above-expected recovery rates were achieved and this augurs well for expansion of heap leaching.

Five Year Summary