All tagged Mineral Resources Ltd ASX:MIN
Mineral Resources Limited (ASX: MIN) advises that Non-Executive Director Tim Roberts has resigned from the Company’s Board with effect from today. Mr. Roberts has indicated that the demands of his other business interests, as well as his New Zealand residence, have made it difficult for him to continue to serve the Company as a director at this time. Mr. Roberts has confirmed that he remains a supportive shareholder of the Company and has no current intention to dispose of his shareholding.
Mineral Resources Limited (ASX: MIN) says its 2019 financial year earnings before interest, tax, depreciation and amortisation at a consolidated group level is expected to be between $360 million to $390 million. This is predicated on various assumptions including pricing for lithium (spodumene concentrate) and iron ore.
Diversified miner Mineral Resources Limited (ASX: MIN) has provided an update to the market on its activities during the March quarter. Spodumene concentrate production from the Mt Marion project remained in line with Q2 FY19, while iron ore shipments increased 41 per cent over the prior quarter.
Mineral Resources (ASX: MIN) announced the pricing on 12 April of its US$700 million 8.125% Senior Unsecured Notes due 2027 in an offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the United States Securities Act of 1933, as amended, and to certain persons outside the United States in offshore transactions in reliance on Regulation S under the Securities Act.
Mineral Resources Limited (ASX: MIN) has completed the purchase of additional equity in the Mt Marion Lithium Project in WA’s Goldfields for $51.9 million. MinRes and Ganfeng Lithium Co. agreed to jointly and equally acquire Neometals' 13.8% interest in Mt Marion for $103.8 million in cash. MinRes will now own 50% of the project.
Leading mining services contractor Mineral Resources (ASX: MIN) says this financial year is the most significant in the company's history as the Perth company establishes the platform for long-term growth. Signing off on December half revenue of $554.7 million and normalised EBITDA of $102 million, MinRes declared $494 million in capital expenditure in the six-month period, led by development of the world-class Wodgina lithium project in the Pilbara. MinRes said its advanced project pipeline would deliver significant long-term shareholder value. The company declared a 13c a share fully franked interim dividend.
Mineral Resources (ASX: MIN) has begun commissioning of the first 250,000tpa module of its world-class Wodgina lithium project in the Pilbara, with first output expected by the end of next month. The commissioning milestone - part of construction of a 750,000tpa concentrate operation at Wodgina - comes as MinRes complements commissioning work at the Mt Marion lithium upgrade project, in the Goldfields. First production from the upgrade project, to deliver all Mt Marion concentrate at 6% lithium level, is expected later this quarter. The lithium commissioning milestones, reported in MinRes' December quarterly activities report today, were highlights in a busy three-month period that also included a maiden iron ore shipment from the company's newly acquired Koolyanobbing operation in Yilgarn.
Tribune Resources (ASX: TBR) marked the December quarter as a busy period for the business, having acquired Singapore-based Prometheus Developments and assessed an unsolicited $112.5 million offer for Tribune's 36.75 per cent stake in the East Kundana Joint Venture.
Mineral Resources (ASX: MIN) and Brockman Mining (ASX: BCK) have executed a mine-to-ship logistics agreement that was a precursor to MinRes' farm-in and joint venture deal over Brockman's Marillana iron ore project in the Pilbara becoming unconditional. MinRes can not begin earning a 50% stake in Marillana through spending $250,000 on exploration and development activities, complete the process design criteria for the processing plant, optimise a mine study plan and finalise the mine development layout plan. MinRes intends to use its light rail system to connect Marillana to Port Hedland.
US lithium products giant Albemarle Corp (NYSE: ALB) has signed an exclusivity agreement with Mineral Resources (ASX: MIN) to buy 50% of the world-class Wodgina lithium project in Western Australia's Pilbara region. Under the terms of the proposed deal, which the parties plan to convert to a binding agreement by December 14, Albemarle will pay MinRes $US1.15 billion ($1.6 billion) cash before the parties set up a 50:50 joint venture to complete construction of the 750,000tpa 6% lithium concentrate plant and fund and design an adjacent lithium hydroxide operation, capable of producing up to 100,000tpa. MinRes kicked off a sales process in May following myriad unsolicited expressions of interest in Wodgina, the world's largest known hard-rock lithium resource.