Mineral Resources maintains guidance following operational growth
- Mineral Resources recorded 103Mt in mining services production volumes alongside record monthly iron ore shipments.
- The company reduced net debt by $0.2B to $4.1B while maintaining its full-year guidance across all operating divisions.
- Increased production volumes and capital discipline continue to underpin balance sheet de-leveraging efforts.
Mineral Resources (ASX:MIN) reported a 10% quarter-on-quarter increase in mining services volumes to a record 103Mt for the September quarter.
The mining services growth contrasts with previous periods, as Onslow Iron achieved a record export month of 3.49M wmt in September.
Lithium sales reached a record 170k dmt SC6 for the quarter, while total capital expenditure landed at $310M.
The business maintained its full-year 2027 volume guidance across iron ore, lithium, and mining services.
Following the announcement, the mineral resources share price was down to $44.25.
The company recently saw credit rating agency Fitch upgrade its rating to BB with a stable outlook.
Regulators at ASIC also formally concluded an investigation into the business without taking any enforcement action.
