Allkem (ASX:AKE) disclosed its consolidated net profit from ongoing operations of US$524.6 Million for the fiscal year.

Coupled with the US$1,207.8 million revenue performance from the group, the firm showed a robust financial standing.

Among notable projects, the construction of Sal de Vida is making significant progress, with the James Bay project steaming ahead after approvals received by the federal government for the ESIA.

In Mid-July, Olaroz Stage 2 achieved its first wet production with a commissioning plan in place to increase operations over the next 12-18 months.

An additional 4-5 year mine life until 2027-2028 has been confirmed after Mt Cattlin’s ore reserve update.

High-grade zones of mineralization were discovered after receiving federal approval for James Bay ESIA in January 2023.

However, the company announced no dividends will be dispersed for this year.

Lastly, the Naraha Lithium Hydroxide Plant has successfully achieved initial production.

Allkem is an international mining conglomerate generating and investing in sustainable, cutting-edge resource exploration.