The All Ordinaries Index (ASX: XAO) is up 0.7% today, with the index both pushed and pulled by these three ASX All Ords mining shares.
One miner is seeing its share price slipping while the other two are marching higher after releasing their quarterly updates this morning.
Which All Ords mining shares are we talking about?
Read on!
ASX All Ords mining share slips on sales slowdown
The Grange Resources Ltd (ASX: GRR) share price is down 1.4% currently, with shares swapping hands for 34.5 cents apiece. That sees the Grange Resources share price down a painful 32% so far in 2024.
Grange Resources operates an iron ore mining and pellet production business.
Investors are bidding down the All Ords mining share today after the company reported a 14% quarter on quarter decrease in pellet sales. Pellet sales came in at 483,000 tonnes, with adverse weather delaying two shipments at the end of June into early July.
The miner reported cash and liquid investments of $289.6 million and trade payable of $5.4 million, compared with cash and liquid investments of $272.0 million and trade receivable of $30.4 million for the March quarter.
On the plus side of the ledger, concentrate production increased 15% from the prior quarter to 675,000 tonnes. This helped drive a 10% decrease in unit cash operating costs.
Which brings us to…
Two ASX miners gaining on results
The first ASX All Ords mining share moving higher following its results is Iluka Resources Ltd (ASX: ILU). The Iluka Resources share price is up 2.0% at $6.28. That leaves the Iluka share price down 5% in 2024.
Investors are bidding up the global mineral sand and critical minerals miner after the company reported on ongoing successful progress with its major projects. This includes Eneabba, in Western Australia, where Iluka is building Australia's first fully integrated refinery for the production of separated rare earth oxides.
The miner will also be catching some tailwinds today with its Zircon sand sales increasing 23% quarter on quarter to 59,000 tonnes. Management noted that the increase came following a "relatively strong first quarter" for Zircon sales.
Which brings us to the third ASX All Ords mining share making a big move following its quarterly update, BCI Minerals Ltd (ASX: BCI). The miner is primarily focused on producing potash and salt.
In earlier trade today, the BCI Minerals share price was up 8.3%. After some likely profit-taking, shares are currently changing hands for 25 cents apiece, up 4.2%. That leaves the BCI Minerals share price down 11% so far in 2024.
The All Ords Mining share is enjoying a strong run today after reporting on the progress at its Mardie Salt & Potash Project in Western Australia. The miner said that the salt first component of the project was 44% complete at the end of June. BCI is targeting its first salt on ship in Q2 FY 2027.
The quarter also saw the All Ords Mining share sign a $598 million transhipment services agreement with CSL Australia Pty Ltd for a term of 21 years.
"BCI Minerals has made solid progress this quarter in infrastructure construction, regulatory approvals, and community engagement. These milestones underscore our dedication to progressing the Mardie Project," BCI managing director David Boshoff said.
