Australia's MinRes extends gains after hiking annual production view

Mineral Resources

01/05/2026 02:09

** Shares of Mineral Resources MIN.AX rise as much as 5.4% to A$67.15 in early trade, their highest level since June 11, 2024

** Stock logs the largest intraday pct gain since mid-April, set for third straight day of gains

** Miner rose as much as nearly 10% on Thursday after upgrading its outlook for annual production volume and flagging costs at its Onslow iron ore project are estimated to trend towards the lower end of guidance

** MinRes on Friday also executes agreements with South Korea's POCSO for the sale of 30% stake in its operational lithium business

** Stock up nearly 12% for the week in its best weekly move since mid February, taking YTD gains to 22.3%

(Reporting by Nikita Maria Jino in Bengaluru)

((Nikita.Jino@thomsonreuters.com;))