Despite a challenging second half of 2024 marked by operational pauses, shareholder strikes, and a high debt load, Mineral Resources (MinRes) reports positive operational performance. The company is focused on cost reductions, strengthening its balance sheet, and capitalizing on emerging opportunities in its lower-cost Onslow project.
The new-look Mineral Resources, with two hubs on care and maintenance and a ‘chastened' Chris Ellison still at the helm for now, has delivered its first production update since paused two assets and was whacked with its first strike over its remuneration from shareholders in November.
Wilson also noted MinRes' cash-generating mining services business was consistent during the quarter and was seeing good interest in contracts from new and existing clients, especially in Queensland.At its mining assets, the decision to wrap up the high-cost Yilgarn operation made sense given the increasing prominence of MinRes' emerging lower-cost Onslow project, while Bald Hill operation was the easiest to shutter given the ongoing lithium price woes.
MINERAL RESOURCES PRODUCTION UPDATE DEBT IRON ORE LITHIUM
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