All tagged Mineral Resources Ltd ASX:MIN

MinRes signs off on transformational year with $165m full-year profit, positive outlook

Leading mining services company Mineral Resources (ASX: MIN) has signed off on a transformational year with a $165 million net profit for the year to June 30, built on revenue of $1.5 billion from its mining services and lithium and iron ore businesses. The profit included normalised earnings before interest, tax, deprecation and amortisation of $433 million, above the guided range of $360 million to $390 million. Directors declared a 31c per share fully franked final dividend. Managing director Chris Ellison described the past year as the most significant in the company's history because it had set MinRes up for long-term growth.

Mineral Resources revises arrangements with Albemarle

Following the announcement of the binding Wodgina Asset Sale and Share Subscription Agreement on 14 December 2018, Mineral Resources (ASX: MIN) and Albemarle Corporation (NYSE: ALB) have developed a strong working relationship and have together been exploring ways to further increase alignment between the parties while leveraging each company’s respective strengths and position in the global lithium industry.

Mineral Resources sets sale price for Mt Marion 6% lithium concentrate

Leading mining services and mining company Mineral Resources (ASX: MIN) says 6% spodumene concentrate shipments from its half-owned Mt Marion lithium project south of Kalgoorlie will be priced at $US608.95 per dry tonne during the September quarter. The price is down from $US682.38/t received in the June quarter, another sign of the tough trading conditions facing the entire ASX-listed lithium sector. Despite the softer price, MinRes said that Mt Marion remained "a profitable and highly valuable long-life lithium asset" for the company.

Director resigns from Mineral Resources board

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.