The 2025 Annual Report outlines a year marked by significant operational milestones, while also acknowledging a challenging period for the business. The report highlights a renewed emphasis on governance, balance sheet resilience and disciplined capital allocation.
A key operational achievement over the period was the successful delivery of Onslow Iron – a transformational project now unlocking stranded tonnes in the West Pilbara region. The project continues its safe ramp-up toward its nameplate production capacity of 35 million tonnes per annum.
The 2025 Sustainability Report details MinRes’ performance and initiatives across mining services and commodities projects, reinforcing its commitment to responsible business practices and its social licence to operate.
MinRes’ financial and in-kind community contributions are also recognised and celebrated in the FY25 Social Investment Report.
Independent Non-Executive Chair Malcolm Bundey, who commenced in the role on 1 July 2025, acknowledged the company’s recent challenges and expressed confidence in its future.
“I’ve been energised by the entrepreneurial, results-driven culture and the extraordinary Mining Services business, which is underpinned by innovative infrastructure and has proven to be resilient to price cycles,” Bundey said.
“With a renewed Board, strengthened governance, an improving balance sheet and growing long-duration earnings from mining services, MinRes is well positioned to restore trust and deliver enduring value for all shareholders.
“We are focused on delivering our commitments safely while maintaining MinRes’ innovative, entrepreneurial spirit.”
Managing Director Chris Ellison reflected on the company’s progress and focus on long-term value creation.
“After many achievements since listing on the ASX in 2006, the delivery of Onslow Iron is our biggest yet. This is not just another project – it’s multi-decade asset that will underpin MinRes for years to come,” Ellison said.
“During this tough year, the support from our shareholders and partners has been invaluable and I’m proud our people have remained focused on the right things – safely delivering on our promises and exceptional performance to create lasting shareholder value.
"We finished FY25 with operational momentum across all our divisions, which is a testament to the drive and commitment of our people.”
The 2025 Annual Reporting Suite includes:
- 2025 Annual Report
- 2025 Sustainability Report and performance tables
- 2025 Corporate Governance Statement
- FY25 Social Investment Report
- 2025 Modern Slavery Statement*
- FY25 Tax Transparency Report
View the full suite of documents at the MinRes Investor Centre.
*The 2025 Modern Slavery Statement is currently being reviewed by the Australian Government and has not yet been officially published on the Modern Slavery Register.
