The company reported underlying EBITDA of $1.2 billion on revenue of $3.1 billion, with net profit after tax of $573 million and free cash flow of $293 million. Liquidity improved to $1.4 billion and net debt fell by $471 million to $4.9 billion.
Onslow Iron was the standout performer, sustaining nameplate capacity of 35 million tonnes per annum since August and contributing $519 million in EBITDA.
Mining Services hit record production of 166 million tonnes, driven by Onslow Iron’s ramp-up and stronger activity on existing contracts, generating EBITDA of $488 million – up 29% on the prior comparative period.
Iron Ore revenue increased 69% to $1.87 billion, delivering $573 million in EBITDA on the back of strong performances across Onslow Iron and Pilbara Hub operations.
Lithium operations produced $167 million in EBITDA, up $182 million year-on-year and supported by stronger prices, higher output and improved recoveries.
At Wodgina, output was up 65% to 173,000 tonnes – driving $113 million in EBITDA – while a 23% increase in production at Mt Marion delivered $57 million in earnings.
MinRes also improved its rolling 12-month TRIFR to 2.93 for the period as Onslow Iron transitioned from construction to steady operations.
Managing Director Chris Ellison said Onslow Iron operating at nameplate capacity and Mining Services delivering record production proves the company’s ability to execute major projects and sustain strong operational performance.
“With Tier 1 assets generating strong cash flow, a strengthened balance sheet and the dedication of our 7,000-strong workforce, MinRes is well positioned for ongoing growth and long-term value creation for shareholders,” Ellison said.
Chair Malcolm Bundey said a strong operational half had been complemented by progress towards MinRes’ focus on governance and financial performance.
“We’ve strengthened our balance sheet, refreshed governance frameworks and welcomed new Board members with valuable skills. As MinRes transitions into a more mature, resilient operating model, we are well placed to seize growth opportunities and deliver enduring value for shareholders,” Bundey said.
For more information on MinRes’ FY26 Half Year Results, please refer to the ASX announcement or the Investor Centre.
