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Mineral Resources Limited ( (AU:MIN) ) has provided an update.
Mineral Resources Limited reported a strong second quarter of FY26, underpinned by robust iron ore output from Onslow Iron and higher lithium prices that supported upgraded production guidance. Attributable quarterly spodumene production reached 138,000 dmt SC6 with sales of 143,000 dmt SC6 at an average realised price of US$1,094/dmt, a 29% quarter-on-quarter increase, prompting the company to lift FY26 volume guidance at both Wodgina and Mt Marion while maintaining cost guidance. Onslow Iron shipped 8.7Mt in the quarter at a FOB cost of $50/wmt, with 1H26 costs trending to the bottom of full-year guidance, and mining services volumes remained on track against FY26 targets. Financially, MinRes continued to deleverage, cutting net debt to about $4.9 billion, increasing liquidity to more than $1.4 billion, and refinancing US$700 million of unsecured notes on improved terms, while a binding agreement for POSCO Holdings to acquire a 30% stake in MinRes’ incorporated lithium joint venture for US$765 million is set to further bolster the balance sheet and reshape its lithium portfolio pending regulatory approvals.
The most recent analyst rating on (AU:MIN) stock is a Hold with a A$66.00 price target. To see the full list of analyst forecasts on Mineral Resources Limited stock, see the AU:MIN Stock Forecast page.
More about Mineral Resources Limited
Mineral Resources Limited is an Australia-based diversified mining and mining services company with major operations in iron ore and lithium. It produces iron ore from the Onslow Iron project and its Pilbara hub, and lithium in the form of spodumene concentrate from the Wodgina and Mt Marion mines, with an integrated focus on mining services and infrastructure across Western Australia.
Average Trading Volume: 1,477,850
Technical Sentiment Signal: Buy
Current Market Cap: A$12.22B
Learn more about MIN stock on TipRanks’ Stock Analysis page.