Deterra Royalties Limited reported a full-year net profit after tax of A$164.2 million for the 2026 financial year, marking a 5% increase compared to the previous period.

Revenue from continuing operations reached A$236.2 million, up 6% from A$222.0 million in FY25. This top-line performance was driven by the company's foundation asset, the Mining Area C iron ore mine in Western Australia's Pilbara region. Operated by BHP as the world's largest iron ore hub, MAC accounts for 9% of global seaborne iron ore supply at full capacity and generated A$234.4 million in revenue during the period, representing a 7% increase.

The revenue growth at MAC was supported by record annual production of 151.8 million wet metric tonnes on a 100% basis, up 8% from 140.1 million wet metric tonnes in FY25. Record sales of 140.1 million dry metric tonnes were achieved, up 9%, though these volumes were partially offset by a 2% decrease in the Australian dollar realised iron ore sales price to A$135.8 per dry metric tonne.

“FY26 showcased the strong, consistent cashflow from our foundation asset, MAC, underpinned by record production and sales, partially offset by a lower AUD pricing environment.”

— Jason Neal, Interim Managing Director and Chief Executive Officer

During the year, Deterra divested non-core precious metal assets acquired through the Trident Royalties acquisition for US$82 million, delivering a pre-tax internal rate of return of approximately 28%. The proceeds included A$107.6 million received in the first half and used to pay down debt, alongside a A$12.7 million receivable due in August 2026.

Net debt decreased to A$132.5 million as of 30 June 2026, down from A$270.6 million as of 30 June 2025. The company finished the period with an undrawn credit facilities capacity of A$357.0 million.

The board declared a final fully franked dividend of 10.8 cents per share, bringing total declared dividends for FY26 to 23.2 cents per share, which represents a payout ratio of 75% of net profit after tax. The final dividend will be paid on 22 September 2026 to shareholders on the record as of 26 August 2026.

In the company's wider portfolio, development advanced at the Thacker Pass lithium project in Nevada, where mechanical completion for Phase 1 is targeted for late 2027, with a ramp-up to full production capacity scheduled during calendar year 2028.

Read the full announcement: Financial Results for the Full-Year Ended 30 June 2026