Jefferies lifts Mineral Resouces' PT on signs of lithium project restart

Mineral Resources

13/05/2026 21:05

** Jefferies raises price target on Australia's Mineral Resources MIN.AX to A$65 from A$60, retains "hold" rating

** Says operational revival of its Bald Hill lithium mine in Western Australia is imminent, based on the miner's recent hiring ads

** Expect Bald Hill restart from the second quarter of FY27 and ramp up to full capacity of 1.2 million tonnes per annum (Mtpa) by the third quarter of FY27, even though MIN expects to restart the project by August - Jefferies

** Jefferies estimates resumption to increase mining services volumes for MIN by 12.3 Mtpa at full capacity

** As of last close, MIN up 29.9% YTD

 (Reporting by Keshav Singh Chundawat in Bengaluru)

 ((Keshav.singhchundawat@thomsonreuters.com))