• Revenues from ordinary activities up 33% to $3,052M
• Profit for the half-year up 161% to $495M
• Net tangible assets per ordinary security increased to $21.13

Mineral Resources Limited reported a strong financial performance for the first half of FY26. Revenues from ordinary activities were up 33% to $3,052M, and profit for the half-year attributable to the owners of the company increased by 161% to $495M. The company's Mining Services division delivered a 29% increase in Underlying EBITDA to $488M, driven by increased production volumes from Onslow Iron and other external customers. Onslow Iron transitioned to steady-state operations early in FY26, achieving its 35Mtpa nameplate capacity in August. The Lithium business also performed well, with Underlying EBITDA from spodumene sales increasing by $182M compared to the prior corresponding period, due to stronger prices, improved production, and increased recoveries at both the Wodgina and Mt Marion operations. The company maintained a robust balance sheet, with cash and cash equivalents of $638M and access to a substantial undrawn debt facility of $800M, resulting in $1,438M in total liquidity. The Board elected not to declare an interim dividend, focusing on strengthening the balance sheet and maintaining a strong liquidity position over the remainder of FY26.