• Onslow Iron ramp-up progressing, with 3.6Mt shipped in Q3
• Pilbara Hub production and shipments impacted by weather events
• Lithium production and sales volumes remain strong
• Continued focus on cost reduction initiatives

Mineral Resources Limited (ASX: MIN) reported its Quarterly Activity Report for the period to 31 March 2025 (Q3 FY25). Key highlights include:- Onslow Iron: Total iron ore production of 6.0M wet metric tonnes (wmt), with shipments of 5.9M wmt. The fourth transhipper began operating at the Port of Ashburton in March 2025, and the fifth transhipper is scheduled to arrive in early May, increasing total transhipping capacity to 35Mtpa. FY25 Onslow Iron volume guidance has been lowered marginally to 8.5-8.7Mt, from 8.8-9.3Mt previously, and FOB costs are expected to be at the upper end of the guidance range ($60-70/t).- Pilbara Hub: Total iron ore production of 7.7M wmt, with shipments of 7.2M wmt. Production and shipments were impacted by Tropical Cyclone Sean in January. FY25 guidance for volumes and FOB costs of $76-86/wmt are maintained.- Lithium: Total quarterly attributable spodumene production across both operating sites was 133k dry metric tonnes (dmt), with shipments of 127k dmt. FY25 Wodgina volume and cost guidance is maintained, while Mt Marion volume guidance is increased to 185-200k dmt SC6, from 150-170k dmt SC6.- Energy: MinRes completed well testing and suspension of Moriary-2 and started the reserves and resource certification process. The Lockyer-6 well was drilled and reached a depth of 4,456 metres before completing a four-day flow testing period.The company continues to focus on cost reduction initiatives, with approximately 1,740 roles reduced across head office and sites since the start of FY25. MinRes' liquidity as at 31 March 2025 was in excess of $1.25 billion, comprising more than $450 million in cash and a fully undrawn $800 million revolving credit facility.

FY25 Onslow Iron volume guidance has been lowered marginally to 8.5-8.7Mt, from 8.8-9.3Mt previously, and FOB costs are expected to be at the upper end of the guidance range ($60-70/t). FY25 Pilbara Hub guidance for volumes and FOB costs of $76-86/wmt are maintained.