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Highlights
- EBITDA surges 49% to $379 million
- Onslow Iron project progressing toward 35Mtpa capacity
- Strong liquidity position with $1.5 billion in cash
Mineral Resources (ASX:MIN) has released its FY25 half-year results, showcasing significant growth across key financial and operational areas. The company reported a robust EBITDA of $379 million, marking a 49% increase compared to the previous corresponding period. Revenue also saw an upward trend, rising by 9% to reach $2.3 billion.
Operational Advancements Fuel Growth
The Onslow Iron project remains a major focus, with ramp-up efforts targeting a 35Mtpa capacity. As part of its expansion strategy, the company secured two new external contracts while successfully extending four existing agreements.
With 29 crushing and processing plants now in operation, Mineral Resources has further strengthened its production capabilities. The commissioning of a new crushing plant enhances efficiency, reinforcing the company’s commitment to operational excellence.
Expanding Mining Services Portfolio
A key highlight for the period was the expansion of Mineral Resources' haulage fleet, now consisting of 110 jumbo road trains. The Onslow Iron Road Trust also delivered its first earnings, generating $29 million in EBITDA.
The company continues to enhance its logistical capabilities, with three out of five transhippers already launched. The remaining two are expected to enter service in February and April, further streamlining mineral transport. Between July and December 2024, Mineral Resources successfully loaded 26 ships, demonstrating its strong export capabilities.
Commitment to People and Sustainability
Mineral Resources continues to prioritize workplace safety and well-being. The company maintained a Total Recordable Injury Frequency Rate (TRIFR) of 3.87, reflecting its dedication to employee safety. Over 620 in-house mental health sessions were offered, underscoring a commitment to workforce well-being.
Diversity and inclusion efforts also progressed, with female representation reaching 21.6% and Indigenous representation standing at 3.4%. Additionally, sustainability initiatives advanced with the installation of a 3.8MW solar array at Ken’s Bore, reinforcing the company’s commitment to renewable energy.
Strong Financial Position
Mineral Resources remains well-capitalized, maintaining $1.5 billion in cash reserves. The company also has an $800 million Revolving Credit Facility, which remains fully undrawn, providing substantial financial flexibility for future growth initiatives.
With solid financials, expanding operations, and a strong commitment to sustainability, Mineral Resources continues to position itself as a key player in the mining sector.
