Mineral Resources lifts profit to $1.2B in FY26
Full story: https://grafa.com/en/news/australia/mineral-resources-lifts-profit-to-1-2b-in-fy26
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Mineral Resources posted a record financial result for fiscal year 2026, driven by mining services expansion, the ramp-up of Onslow Iron, and stronger lithium performance.
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The company reinstated a fully franked final dividend of 83 cents per share after net profit after tax reached 1.2 billion dollars.
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Management reduced overall net debt while leveraging multiple commodity operations to support future balance sheet strength.
Mineral Resources (ASX:MIN) reported a record statutory net profit after tax of $1.2 billion for the full year ended June 30.
The strong result compares to a previous loss-making period and was supported by a 44% increase in full-year revenue to $6.5 billion.
Underlying EBITA surged 183% to $2.6 billion, while underlying net profit reached $822 million.
FY26 operating cash flows before interest and tax were $2.4 billion, which included $430 million of receipts on the Onslow Iron carry loan, with $335 million outstanding as at June 30.
"Onslow Iron achieved a nameplate capacity of 35Mtpa in August 2025, just three years after we reached a final investment decision. Looking forward to FY27, we are guiding Mining Services volume growth of 9% to 14% on last year," stated MinRes Managing Director Chris Ellison.
The company reduced its total net debt by $1.1 billion to $4.3 billion and generated $849 million in free cash flow.
For FY27, the company’s Mining Services division is expected to grow further in FY27 from the FY26 record year. Earnings are underpinned by long-term contracted revenue supporting a growing base of infrastructure-like, recurring earnings.
Following the announcement, the Mineral Resources share price was up at $66.89.
The business operates across key mining services contracts, iron ore hubs in the Pilbara region, and lithium joint ventures at Wodgina and Mt Marion.
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