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Southern Alliance Mining earnings down 89%, maintains diversification plans

The Edge Singapore
The Edge Singapore9/28/2022 06:15 PM GMT+08  • 2 min read
Southern Alliance Mining earnings down 89%, maintains diversification plans
Southern Alliance Mining's crushing plant
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Pahang-based iron miner Southern Alliance Mining has reported earnings of RM16.3 million for FY2022 ended July, down 89% y-o-y.

Revenue in the same period was down 53.9% y-o-y to RM178.7 million, in line with a softer global market for iron ore and lower production volume.

The company plans to expand into gold mining so as to diversify its earnings base.

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