• Revenue down 8.9% to $2,290M
• Loss from ordinary activities after tax of $809M
• Underlying EBITDA of $302M, down 55% on prior period
• No interim dividend declared

Mineral Resources Ltd reported a statutory net loss after tax of $807M for the first half of FY25, down $1,337M on the prior corresponding period. The result included $352M of post-tax impairment charges, primarily related to the Bald Hill lithium project, and $232M post-tax translation impact on foreign currency denominated balances. The company generated Underlying EBITDA of $302M, down 55% on the prior period, due to a reduction in commodity prices which was partially offset by record Mining Services earnings. The Iron Ore division reported a small loss as operations at the Yilgarn Hub transitioned into care and maintenance, and the Lithium division was impacted by a weak price environment, resulting in Bald Hill being placed into care and maintenance. Consistent with the focus on the group's balance sheet and maintaining liquidity, the Board did not declare an interim dividend. At 31 December 2024, Mineral Resources held $720M in cash and cash equivalents, with access to $800M in undrawn debt facilities, resulting in $1,520M in liquidity. The company's capital structure consists predominantly of US$3,050M of senior unsecured bonds with no maturities prior to mid-2027.