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QMAG’s three multiple hearth furnaces at Rockhamption, Queensland. A $21.5m. expansion was commissioned in July 2010. |
Queensland Magnesia Pty Ltd (QMAG), having recently brought on stream a major expansion programme, is anticipating its financial year ending June 2011 to be a record for sales and profitability with revenues above US$150m.
The expected record results come as QMAG’s owner, Resource Capital Funds (RCF), launches a review of its ownership structure.
QMAG has been owned by RCF since 2004. RCF, a private investment fund headquartered in Denver, is notable for specialising in the mining and resource sector.
Alan Roughead, managing director, QMAG told IM: “It has been well known that RCF would review its ownership at some point in time. With QMAG now in strong shape, it is a natural point in time for RCF to evaluate its options.”
RCF has initiated a...