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Mineral Resources

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Mineral Resources
ASX: MIN
IndustryMining
FoundedJuly 2006
FounderChris Ellison
Headquarters
Perth, Western Australia
Area served
Goldfields, Pilbara
Key people
James McClements (Chairman)
Chris Ellison (Managing Director)
ProductsIron ore, lithium
ServicesMining services
Revenue$5.3 billion (2024)
$158 million (2024)
Number of employees
8,500 (2024)
Websitewww.mineralresources.com.au

Mineral Resources Limited, commonly known as MinRes, is a Western Australian mining services company.

History

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Mineral Resources was established in July 2006 when pipeline manufacturing and contracting business PIHA, Crushing Services International and Process Minerals International merged and was listed on the Australian Securities Exchange.[1][2][3]

In November 2023 the Bald Hill Lithium and Tantalum Mine was purchased.[4][5] In November 2024 the mine was closed and put into care and maintenance after a collapse in lithium prices.[6][7]

In June 2024, Mineral Resources announced it would shut down its Yilgarn iron ore hub by the end of the year after it was deemed financially unviable.[8]

Operations

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Mineral Resources operates two iron ore hubs: Utah Point Hub in Port Hedland and Yilgarn Hub in Esperance. Mines are operated at Iron Valley, Koolyanobbing and Kumina.[9]

Mineral Resources is involved in bulk ore transportation in the Pilbara.[10][11] In 2014, Mineral Resources purchased six UGL Rail C44aci locomotives and 382 iron ore wagons with Pacific National taking over the operation of its services from Aurizon.[12][13] In November 2023 the services were taken over by Aurizon with the six locomoives sold to Southern Shorthaul Railroad.[14][15]

Minerals Resources operates two hard rock lithium mines in Western Australia;
Mount Marion in the Goldfields,[16] and Wodgina in the Pilbara.[17][18] Mount Marion contains the world's second-biggest high-grade lithium mineral resources, with an estimated 71 million tonnes (160 billion pounds) of the mineral spodumene.[19]

MinRes Air

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Having previously relied on other air service providers to operate flights for its fly-in fly-out workforce, in July 2024 MinRes Air was launched with a former Tigerair Airbus A319 on services between Brisbane and the Pilbara with plans to introduce a Perth service.[20][21][22]

Initially the services are being operated by Skytraders, pending MinRes Air being granted its own air operator's certificate. In July 2024 a former Air France Airbus A320 was leased.[23] Mineral Resources has a 50% shareholding with the balance owned by Multiplex heir Tim Roberts.[24]

References

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  1. ↑ Mineral Resources Limited: Admission to Official List Australian Securities Exchange 26 July 2006
  2. ↑ Dickson, Alan (April 2019), "Mineral Resources Limited", Equity, 33 (4): 16–17, ISSN 1323-5303
  3. ↑ MinRes turns $50m Pilbara Minerals stake into $330m Australian Financial Review 5 September 2021
  4. ↑ MinRes pays $260m for mine in WA lithium heartland Australian Financial Review 22 November 2023
  5. ↑ MinRes acquires Bald Hill lithium mine Mineral Resources 23 November 2023
  6. ↑ Lithium mine to close in WA putting 300 jobs at risk Nine News 13 November 2024
  7. ↑ MinRes mothballs Bald Hill lithium mine Business News 13 November 2024
  8. ↑ Burton, Jesinta (19 June 2024). "'Prudent but difficult': Mineral Resources announces Yilgarn shutdown, 1000 jobs affected". WAtoday. Retrieved 22 June 2024.
  9. ↑ MinRes to supercharge iron ore export capacity Australian Mining 20 November 2020
  10. ↑ Pilbara Bulk Ore Transportation System : Mineral Resources Limited, Environmental Protection Authority of Western Australia, 2016, retrieved 14 September 2021
  11. ↑ Western Australia. Environmental Protection Authority; Mineral Resources Limited (2017), Jackson 5 and Bungalbin East Iron Ore Project : Mineral Resources Limited, Environmental Protection Authority of Western Australia, retrieved 14 September 2021
  12. ↑ New rail fleet hits the tracks at Carina iron ore mine Australian Mining 25 July 2014
  13. ↑ Mineral Resources buy their own Trains Railway Digest May 2014 page 30
  14. ↑ Aurizon Motive Power issue 151 January 2024 page 21
  15. ↑ Mineral Resources Ltd locos on the move Catch Point issue 288 July 2025 page 13
  16. ↑ "Australias Mt Marion lithium mine beats guidance". Argus Media. 30 July 2021. Retrieved 15 September 2021.
  17. ↑ "Lithium". Mineral Resources. Retrieved 15 September 2021.
  18. ↑ "Mines statistics highlight reductions at Wodgina". Australianmining.com.au. 1 August 2018. Retrieved 15 September 2021.
  19. ↑ "Mount Marion Lithium Project". Mining Technology. April 2021. Retrieved 22 April 2023.
  20. ↑ Qantas subsidiary staff flock to a new airline that could shake up FIFO networks Crikey 20 May 2024
  21. ↑ First MinRes Air flight takes to the skies MinRes 4 July 2024
  22. ↑ MinRes Air takes off Australian Mining 8 July 2024
  23. ↑ MinRes Air Aviation Week Network 15 July 2024
  24. ↑ MinRes Air propelled by Tim Roberts Australian Financial Review 1 September 2024
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