IRC (01029) announced that the group expects to record a loss attributable to owners of approximately $90 million to $110 million for the six months ended June 30, 2025, compared to a loss attributable to owners of approximately $13.2 million for the six months ended June 30, 2024. The increase in losses is primarily due to the group's potential need to make an asset impairment provision of approximately $120 million for the K&S mine as of June 30, 2025 (June 30, 2024: nil). The main reason for the required asset impairment provision is the appreciation of the Russian ruble, which has led to increased operating costs denominated in US dollars. Additionally, any impairment charges or reversals are non-cash and non-recurring in nature and will not have a direct impact on the group's cash flow.
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