2025 Financial Year - Results Announcement
| Stock | Mineral Resources Ltd (MIN.ASX) |
|---|---|
| Release Time | 28 Aug 2025, 8:15 a.m. |
| Price Sensitive | Yes |
Mineral Resources Ltd reports FY25 results
- Strengthened Board with new appointments
- Onslow Iron operating at annualised 35Mtpa run rate
- Liquidity remains strong at over $1.1bn
Mineral Resources Ltd (ASX: MIN) has reported its financial results for the full year ended 30 June 2025 (FY25). The company strengthened its Board with the appointment of a new Independent Non-Executive Chair and two new Independent Non-Executive Directors, who are leading a governance refresh and capital allocation framework review. Onslow Iron has operated at an annualised run rate of 35 million tonnes per annum (Mtpa) in the four weeks to 26 August 2025, in line with guidance for achieving nameplate capacity in Q1 FY26. Liquidity remains strong at more than $1.1 billion, with net debt to EBITDA continuing to decline. MinRes navigated weak lithium and softer iron ore markets to deliver revenue of $4.5bn and Underlying EBITDA of $901 million, supported by a focus on cost control and operational improvements. Strong Mining Services performance, with record production volumes and inaugural Onslow Iron Road Trust earnings, underpinned earnings. The company optimised lithium cost structures and plant performance to preserve value. Underlying net loss after tax was $112M, with a statutory net loss after tax of $896M, including $632M of post-tax impairment charges.
For FY26, Onslow Iron is expected to produce 17.1-18.8Mt (30.0-33.0Mt, 100% basis), with the Mining Services division forecast to deliver production volumes of 305-325Mt. Lithium production guidance is 160-180k dmt SC6 equivalent for Mt Marion and 220-240k dmt SC6 equivalent for Wodgina.
Looking ahead, MinRes enters FY26 with operational momentum and a positive outlook. Onslow Iron is now established as a cash generative low-cost, long-life asset that will underpin continued deleveraging of the balance sheet and reposition the Company by driving stable, long-term growth for the Iron Ore and Mining Services divisions. The immediate focus is on strengthening the balance sheet, prudent capital allocation and delivering on guidance.