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Mineral Resources Limited (ASX:MIN)

ALERT: Price-sensitive ASX Announcement for MIN
Current share price for MIN : $58.300 15.92 (37.56%)+
Announcement
Release
30 Oct 2025 8:17AM
Price at Release
$42.380
Full Release
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Summary
Mineral Resources Limited reported strong operational performance for Q1 FY26, achieving significant milestones across its iron ore and lithium divisions. The Onslow Iron project operated at a 35Mtpa capacity, resulting in a $200M contingent payment. The company's liquidity remained strong at $1.1B, with net debt steady at $5.4B. Iron ore shipments at the Pilbara Hub increased by 9%, while lithium prices rose by 31%, achieving an average price of US$849/dmt. Recovery and throughput optimizations were successfully completed across key sites, including Mt Marion and Wodgina. The Board was strengthened with the appointment of new Independent Non-Executive Directors. The company maintained its FY26 volume and cost guidance across all divisions.
Key Points
  • Onslow Iron project reached 35Mtpa capacity.
  • Liquidity remained strong at $1.1B.
  • Net debt steady at $5.4B.
  • $200M contingent payment from Morgan Stanley Infrastructure Partners.
  • Iron ore shipments at Pilbara Hub increased by 9%.
  • Lithium prices increased by 31% to US$849/dmt.
  • Recovery and throughput optimizations at Mt Marion and Wodgina.
  • Appointment of new Independent Non-Executive Directors.
  • FY26 volume and cost guidance maintained.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.