Australia's Mineral Resources beats interim earnings forecasts on Onslow Iron strength

Mineral Resources

19/02/2026 23:54

Feb 20 (Reuters) - Australia's Mineral Resources MIN.AX reported better-than-expected interim earnings on Friday, boosted by sustained nameplate capacity production from its onshore Onslow Iron project and improved lithium recoveries.

The lithium miner swung to an underlying net profit after tax of A$343 million ($242.16 million) for the six months ended December 31, compared with a loss of A$196 million last year, and raced ahead of the Visible Alpha consensus estimate of A$288.9 million.

Mineral Resources did not declare an interim dividend, as it did last year, as it "remains focused on fortifying the balance sheet."

The company also expects to hold a board and executive strategy session in March to assess the ongoing business and growth opportunities, with the intention of outlining strategic plans later in the year.

Shares of the lithium miner rose as much as 4.3% to A$56.41 by 2340 GMT, hitting over a two-week high.

($1 = 1.4164 Australian dollars)

(Reporting by Shivangi Lahiri in Bengaluru; Editing by Rashmi Aich)

((Shivangi.Lahiri@thomsonreuters.com;))