Strategic Minerals half-year profit and revenue plunge

Strategic Minerals plc is a mineral production and development company. It has an operation in the United States of America along with development projects in the United Kingdom and Australia. Its Southern Minerals Group LLC segment is involved in the sale of magnetite to both the United Kingdom domestic market and historically transported magnetite to port for onward export sale. Its Development Asset segment holds the Leigh Creek Copper Mine Development Asset in Australia. Its United Kingdom segment holds an investment in the Redmoor project in Cornwall, United Kingdom. The Leigh Creek Copper Mine is situated in the North Flinders Ranges of South Australia, 500 kilometers north of Adelaide. It covers 935 square kilometers of exploration leases and consists of three sites. Its Cobre operation sells Magnetite from a treated stockpile. The Redmoor Project is located between the village of Kelly Bray and the small town of Callington in southeast Cornwall, United Kingdom.