Deterra Royalties Limited (ASX: $DRR) has confirmed total royalty receipts for the March 2024 quarter of $63.1 million. The company's three producing royalties in the quarter included Mining Area C (MAC), which generated iron ore revenue royalties of $62.8 million, and two Western Australian mineral sands operations which generated $0.3 million combined.
The MAC iron ore royalties increased by 0.6% compared to the December 2023 quarter, primarily due to slightly higher sales volumes. Our ongoing royalty of 1.232% of Australian dollar denominated quarterly FOB revenue from the MAC royalty area, along with additional one-off capacity payments, has contributed to the positive revenue update. It's important to note that our royalty receipts are based on sales invoiced during the period, which may reflect provisional pricing, impacting quarterly revenues based on the timing of adjustments to align achieved pricing to provisional pricing from the prior quarter.
Deterra Royalties (ASX: $DRR) has reported a total royalty receipt of $63.1 million for the March 2024 quarter, with a notable increase in MAC iron ore royalties by 0.6% compared to the previous quarter. The company's ongoing royalty structure and additional one-off capacity payments have contributed to this positive outcome. Looking ahead, Deterra's demonstrated annual capacity level of 118Mdmt and the ongoing iron ore sales will continue to play a significant role in shaping the company's revenue outlook. The company remains focused on leveraging its royalties from key operations to drive sustainable growth and value for its stakeholders.