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Mineral Resources Shares Surge on Record FY26 Volumes Across Lithium, Iron Ore and Mining Services Units
['Tony Jackson']
International Business Times Australia
Shares in Mineral Resources climbed 4.75% on Wednesday, closing at $55.62 after adding $2.52, as the diversified Australian miner reported record annual production volumes across its mining services, iron ore and lithium divisions alongside a significant improvement in its balance sheet.
Mineral Resources' mining services division handled a record 341 million tonnes during the full fiscal year, an increase of 22% over the prior year and above the company's upgraded guidance range of 320 million to 330 million tonnes.
Onslow delivered attributable shipments of 19.7 million wet metric tonnes for the year, exceeding the upgraded guidance range of 17.7 million to 19.4 million tonnes, while the operation ran at a pace equivalent to 38 million tonnes annually during the June quarter specifically.
Mineral Resources has continued to advance expansion projects across its lithium portfolio even as it worked to strengthen its balance sheet.
Gold miners including Resolute Mining, Evolution Mining and Northern Star Resources each rose more than 2% during the session.