Mineral Resources (ASX:MIN) has upgraded its FY26 lithium production guidance following a standout December 2025 quarter, marked by rising commodity prices and a significant reduction in company debt.
Driven by a 29% jump in realised lithium prices to US$1,094 per tonne, the mining giant has increased volume targets for its key assets.
Production guidance for the Wodgina site was lifted to a range of 260,000–280,000 tonnes, while Mt Marion targets were raised to 190,000–210,000 tonnes.
Total attributable spodumene production for the quarter reached 138,000 dry metric tonnes.
Beyond lithium, the company's Onslow Iron Project continues to gain momentum, shipping 8.7 million tonnes during the quarter.
Operating costs at Onslow are currently tracking toward the lower end of full-year expectations at $50 per wet metric tonne.
MinRes strengthened its position, slashing net debt by $500 million to approximately $4.9 billion.