Mineral Resources Limited reported record financial results for the full year ended 30 June 2026, delivering an Underlying net profit after tax of $822 million, up 831% on the prior corresponding period.

The result was driven by record revenue of $6.5 billion, up 44%, alongside record Underlying EBITDA of $2.6 billion, representing a 183% increase on the prior year. The performance was supported by Mining Services growth, the ramp-up of the Ashburton Hub (Onslow) project, and improved lithium performance. Reported NPAT reached $1.2 billion, up 236%.

Net debt reduced to $4.3 billion as of 30 June 2026, down from $4.9 billion as of 31 December 2025. The company generated free cash flow of $849 million, while liquidity doubled to $2.4 billion, comprising $1.6 billion in cash and an undrawn $800 million revolving credit facility.

The board declared a fully franked final dividend of $0.83 per share, representing a 20% payout of Underlying NPAT. The dividend is scheduled to be paid on 30 September 2026 to shareholders on the register at 9 September 2026.

“The Board is pleased to declare a fully franked FY26 full year dividend of $0.83 per share. This reflects the Board's confidence that the balance sheet is healthy and we are generating cash to sustain returns through the cycle.” — Mal Bundey, Board Chair

Completion of the previously executed agreement for POSCO Holdings Inc to acquire a 30% interest in Mineral Resources' ownership of the Wodgina and Mt Marion lithium assets for US$765 million in gross proceeds is expected in the first half of fiscal 2027, subject to conditions precedent. That transaction is projected to further reduce net debt to $3.2 billion.

For the 2027 financial year, the company guides Mining Services volume growth to 370 million to 390 million tonnes. At Wodgina, clean ore is expected to feed all three processing trains from the second quarter of fiscal 2027.

“Looking forward to FY27, we are guiding Mining Services volumes growth of 9% to 14% on last year. This continued growth will be driven by operating Onslow Iron beyond nameplate, the restart of Bald Hill, increased mining at Mt Marion and our growing external order book.” — Chris Ellison, Managing Director

Read the full announcement: FY26 Financial Results Announcement