Grange swings back to profits

Magnetite miner Grange Resources has swung to a profit after tax of A$92.9-million for the 2016 financial year, compared with a loss of A$227.8-million in 2015. ASX-listed Grange on Tuesday reported revenues of A$276.3-million for the full year, compared with the A$205.6-million reported for the prior financial year, with a new sales record of 2.75-million tonnes achieved in 2016.