Mineral Resources (ASX:MIN) Announces FY25 Half-Year Results
Financial Performance
Mineral Resources reported a $379 million EBITDA, an increase of 49% compared to the prior corresponding period. The company’s revenue rose by 9% to $2.3 billion.
Operational Achievements
The Onslow Iron project is ramping up towards a 35Mtpa capacity. Mineral Resources secured two new external contracts and extended four existing ones. The company operates 29 crushing and processing plants, including the commissioning of a new crushing plant.
Mining Services Growth
The haulage fleet expanded to 110 jumbo road trains. The Onslow Iron Road Trust achieved inaugural earnings of $29 million EBITDA. Three of five transhippers have been launched, with the fourth and fifth scheduled for February and April respectively. Between July and December 2024, 26 ships were loaded.
People and Sustainability
Mineral Resources maintained a TRIFR of 3.87 and offered over 620 in-house mental health sessions. The company achieved 21.6% female representation and 3.4% Indigenous representation in its workforce. Additionally, a 3.8MW solar array was installed at Ken’s Bore.
Cash and Liquidity
Mineral Resources maintains strong liquidity with $1.5 billion in cash and a fully undrawn $800 million Revolving Credit Facility.
Motley Fool contributor Kiarra Jackson has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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