Mineral Resources Limited (AU:MIN) has released an update.
Mineral Resources Limited has announced the successful sale of a 49% stake in the Onslow Iron haul road to Morgan Stanley Infrastructure Partners for $1.3 billion, with full completion expected within 15 business days. The deal will bolster cash flow for MinRes, enabling the company to cancel a US$750 million bridge facility and contribute to a rapid balance sheet deleveraging, alongside identified capital and operational cost savings. Despite the operational changes, production guidance remains unchanged, and the company is on track to be cash flow positive from its ramped-up iron ore operations starting October 2024.
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