Mineral Resources Limited (ASX: MIN) has released its activities report for the June Quarter period to 30 June 2026.
Highlights
- FY26 volume and cost guidance was achieved or exceeded across all business segments, with record annual volumes for Mining Services (341Mt), Iron Ore (29.5Mt) and Lithium (559k dmt SC6).
- Mining Services FY26 production volumes of 341Mt were up 22% yoy and above the upgraded guidance range of 320-330Mt.
- Onslow Iron produced 8.8Mt and shipped a record 9.6Mt in Q4 FY26 (100% basis), bringing FY26 attributable shipments to 19.7M wmt and exceeding the upgraded guidance range (17.7-19.4M wmt). The FY26 FOB cost was $52/wmt, below the guidance range ($54-59/wmt).
- Pilbara Hub shipped 2.7Mt in Q4 FY26 as Lamb Creek continued to ramp up, bringing FY26 shipments to 9.9M wmt, at the upper end of guidance (9.0-10.0M wmt). The FY26 FOB cost of $79/wmt was at the upper end of guidance ($75-80/wmt), as previously advised.
- Quarterly attributable lithium sales totalled a record 158k dmt SC6 at an average achieved price of US$2,425/dmt CIF SC6, up 15% qoq.
- Wodgina FY26 record sales of 317k dmt SC6 outperformed the upgraded guidance (270-290k dmt SC6). The FY26 SC6 FOB cost was $738/dmt, at the lower end of guidance ($730-800/dmt SC6).
- Mt Marion FY26 record sales totalled 242k dmt SC6, above the upgraded guidance (210-230k dmt SC6). The FY26 SC6 FOB cost was $847/dmt, within guidance ($820-890/dmt SC6).
- Liquidity strengthened to $2.4B (up $0.6B qoq) and net debt reduced to approximately $4.3B (down $0.2B qoq), reflecting significant free cash flow generation.
