MinRes Haul Road Sale Could Generate A$1.1 Billion Net Proceeds -- Market Talk

Dow Jones04-26

0039 GMT - Mineral Resources could generate net proceeds of A$1.1 billion from selling a 49% stake in its Onslow Iron haul road, says Bell Potter. In a note, analyst Bradley Watson assumes those proceeds will be received in 1Q of FY 2025, given MinRes expects to do a deal in 2H of FY 2024. "Based on the 35 million ton/annum operation, MinRes is seeking to sell a A$140 million annual Ebitda stream over the life of the project," Bell Potter says. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

April 25, 2024 20:39 ET (00:39 GMT)

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