Diversified miner Consolidated Minerals Ltd has posted a $6.55 million annual loss after prices fell for its key commodities.

The net loss follows a $65.22 million profit in 2004/05.

"This is a disappointing result given that production volumes were increased in all three operating divisions and cost pressures were largely contained," the company said.

Production of manganese was up 46 per cent for the year to 888,432 tonnes, while chromite production increased by five per cent to 252,867 tonnes.

But oversupply of manganese pushed the prices down, said Consolidated.

"This decoupling of the manganese spot price from both the iron ore and manganese benchmark prices saw the average sale price received in 2006 down by 36 per cent from that achieved in 2005," it said.

The lower prices pushed net cash inflows down to $9.03 million, decreased from $62.9 million in the previous year.

Also contributing to the loss was a board and management restructuring cost of $5.1 million, project expenditure write-downs of $6 million and a $1 million equity accounting loss from Jabiru Metals Ltd.

The company's assets are worth $457 million, up from $144 million in 2004/05, following a $67.4 million capital raising, the takeover of Titan Resources and a 32.5 per cent stake in Jabiru.

Consolidated did not declare a final dividend, leaving dividends for the year at 3 cents, down from 18 cents in 2004/05.

Shares in Consolidated dropped 11.5 cents to $1.83 by 1503 AEST.