Lithium · Senior · Mid-Tier · Producer · Australia
Last updated 21 June 2026
Data compiled from public filings — information only, not investment advice. AI‑assisted; see methodology.
Portfolio Aggregate · 2 projects
Portfolio mode — asset rows are for context only; tab totals use the company aggregation.
MinRes Iron Ore Portfolio
Portfolio · Operating
Project information
As at 30 June 2025
Description
As at 30 June 2025
Consolidated rollup of MinRes' Iron Ore division, anchored by the flagship Onslow Iron project (Red Hill Iron Ore Joint Venture, MinRes 57%) and the 100%-owned Pilbara Hub (Iron Valley and Wonmunna), with the Lamb Creek development to be incorporated in FY26. The Yilgarn Hub ceased exports in December 2024 and was sold to Yilgarn Iron Investments on 30 June 2025 (FY25 shipments of 2.4M wmt at $128/wmt FOB are included in the consolidated totals below; a $51M post-tax gain on sale was recognised). FY25 division revenue was $2,334M with the Platts 62% IODEX averaging US$101/dmt; the group's average realised iron ore price was US$83/dmt ($116/wmt), an 82% realisation. The source publishes annual production, guidance and unit costs by hub but no consolidated reserves and resources tables; an updated Onslow Iron Mineral Resources and Ore Reserves statement (89% resource and 73% reserve increase) was announced separately in Q3 FY25. Multi-jurisdictional rollup within Western Australia.
Portfolio Aggregate
As at 30 June 2025
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MinRes Lithium Portfolio
Portfolio · Operating
Project information
As at 30 June 2025
Description
As at 30 June 2025
Consolidated rollup of MinRes' Lithium division, comprising three premier hard-rock lithium mines in Western Australia: Mt Marion and Bald Hill in the Goldfields region and Wodgina in the Pilbara. The division focuses on sustaining flexible production levels to respond to market conditions, reducing costs and capital spend, and expanding Resources and Reserves through ongoing drilling across existing deposits and nearby tenements, positioning the company within the global battery supply chain alongside partners Ganfeng Lithium (Mt Marion, 50/50) and Albemarle (Wodgina MARBL JV, 50/50). FY25 was shaped by lithium price weakness: volumes were aligned to market via lower-volume, higher-grade production, Bald Hill moved to care and maintenance in November 2024 (a $337M post-tax impairment was recognised), and guidance was achieved across Wodgina and Mt Marion. The source publishes per-mine production, guidance and FOB cost figures but no consolidated reserves and resources tables for the division.
Portfolio Aggregate
As at 30 June 2025
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Operating · 6 projects
Mt Marion
Asset · Ownership 50%
Project information
As at 30 June 2025
Description
As at 30 June 2025
Hard-rock lithium (spodumene) mine in the Goldfields region jointly owned by MinRes (50%) and Ganfeng Lithium Co. (50%) through the Mt Marion Lithium Pty Ltd joint operation, with all mining activities managed by MinRes and MinRes holding an offtake entitlement to 51% of total production. FY25 production was deliberately reduced to align with market conditions and deliver a higher-grade product: optimisation of the regrind milling circuit and repurposing of wet high-intensity magnetic separators lifted average product grade and recovery in 2H25, while development of underground resources was deferred at the end of 1H25 to reduce capital expenditure. The weighted average grade shipped rose to 4.4% (FY24: 4.1%), and cost-reduction measures from the December quarter contributed to lower 2H25 FOB costs. A net realisable value write-down of $11M was taken on low-grade stockpiles. FY26 guidance anticipates further cost reductions from operational improvements and a lower strip ratio.
Mining metrics
Multiple effective dates
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Wodgina
Asset · Ownership 50%
Project information
As at 30 June 2025
Description
As at 30 June 2025
Considered one of the world's largest known hard-rock lithium (spodumene) deposits, located in the Pilbara region and held through the 50/50 unincorporated MARBL Joint Venture between MinRes and Albemarle Corporation, with all operating activities managed by MinRes. FY25 production rose 18% on enhanced plant performance and improved feed quality despite two Q3 cyclone events, one causing a four-day site shutdown. Capital projects executed in FY25 - optimised post-crusher blending, particle size indicators, on-stream analysers and high-intensity conditioning dewatering cyclones - combined with access to higher-quality fresh feed to deliver a significant step change in recovery. The site achieved 576,000 wet total tonnes at an average grade of 5.5%. Further cost reductions are expected over coming years, supported by ongoing plant improvements and access to more fresh ore following the Stage 3 cutback in 2H FY26. The Wodgina commercial arrangements also include Global Advanced Metals' tantalum circuit rights dating from the 2016 acquisition.
Mining metrics
Multiple effective dates
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Iron Valley
Asset · Operating
Project information
Description
Operating iron ore mine within the Pilbara Hub, exporting through Utah Point at Port Hedland. MinRes took ownership of the Iron Valley project from BCI Minerals Limited at the end of FY24, with the initial $26 million acquisition payment made to BCI Minerals during FY25. Iron Valley delivered a strong contribution to the Pilbara Hub's FY25 performance and serves as the regional anchor for the planned Lamb Creek development located 50 km to its west, whose ore will be incorporated into the hub's supply chain in FY26. Production, cost and guidance figures are disclosed at the Pilbara Hub level rather than per mine, and no reserves and resources tables for the asset are published in this report.
Mining metrics
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Wonmunna
Asset · Operating
Project information
Description
Operating iron ore mine within the 100%-owned Pilbara Hub, exporting through Utah Point at Port Hedland alongside Iron Valley. The operation hosts a 2.1MW solar-battery hybrid system capable of reducing diesel consumption by approximately 760,000 litres each year as part of MinRes' decarbonisation infrastructure. Production, cost and guidance figures are disclosed at the Pilbara Hub level rather than per mine, and no reserves and resources tables for the asset are published in this report.
Mining metrics
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Pilbara Hub
District
Project information
As at 30 June 2025
Description
As at 30 June 2025
100%-owned Central Pilbara iron ore operations comprising the Iron Valley and Wonmunna mines, exporting through Utah Point at Port Hedland. FY25 shipments of 9.69M wmt were at the top end of guidance, with a 28% lump weighting, and the hub loaded its 1,000th ship from Utah Point while setting new records for shipment size and lump and fines load-out rates. Ownership of Iron Valley was assumed from BCI Minerals at the end of FY24 with an initial $26M payment. The hub provides important cash flow to support group growth and is preparing to incorporate the Lamb Creek deposit into its supply chain in FY26, which is expected to extend the Pilbara Hub's mine life by approximately five years. A 2.1MW solar-battery system at Wonmunna reduces diesel consumption by around 760,000 litres per year. The source publishes hub-level production, guidance and FOB costs but no reserves and resources tables for these operations.
Mining metrics
Multiple effective dates
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Royalties & streams
All royalty and stream interests in the database that refer to this asset by name.
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Onslow Iron
District · Ownership 57%
Project information
As at 30 June 2025
Description
As at 30 June 2025
Flagship long-life, low-cost iron ore complex in the West Pilbara held through the Red Hill Iron Ore Joint Venture (MinRes 57%) with partners Baowu, AMCI and POSCO. The mine plan draws on satellite deposits - Ken's Bore plus the newly developed Cardo Bore East and Upper Cane - hauled to a centralised crushing, processing and four-lane truck load-out facility at Ken's Bore (inbuilt capacity above 60Mtpa), then trucked 147-150 km on a dedicated private haul road to the Port of Ashburton, where purpose-built 20,000 t transhippers (fleet of five, expanding to seven) load ocean-going carriers 40 km offshore. First ore May 2024; commercial production effective 30 June 2025; 32.4Mtpa annualised run rate in June 2025 and 35Mtpa in the four weeks to 26 August 2025. A Q3 FY25 updated MRR statement lifted resources 89% and reserves 73%. A 49% interest in the haul road was sold to Morgan Stanley Infrastructure Partners for up to $1.3 billion; road upgrades (asphalting all 150 km) completed September 2025 underpin planned autonomous haulage.
Mining metrics
Multiple effective dates
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Development · 1 project
Lamb Creek
Asset · Feasibility
Project information
Description
Iron ore development project situated 50 km west of Iron Valley in the Central Pilbara, anticipated to bring 7.5Mtpa into production and reinforce MinRes' growth in the region. Planning for a proposed transition to production progressed in Q4 FY25, with preparations well advanced to incorporate the deposit into the Pilbara Hub supply chain in FY26: final project approvals are expected shortly, construction is scheduled to commence in the second quarter of FY26 and first ore is anticipated in the second half of FY26. The projected capital expenditure of $140 million is expected to extend the Pilbara Hub's mine life by approximately five years and unlock additional growth opportunities, with payback of less than two years inclusive of mining services earnings, subject to iron ore pricing. No reserves and resources tables for the project are published in this report.
Mining metrics
As at 30 June 2025
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Exploration · 2 projects
Carnarvon Basin Exploration Joint Venture
District · Exploration · Ownership 50%
Project information
Description
50/50 conventional gas exploration joint arrangement with Hancock Prospecting over MinRes' onshore Carnarvon Basin exploration acreage, formed alongside the Perth Basin joint venture as part of the December 2024 $1.1 billion gas transaction with Hancock. The arrangement provides exposure to highly prospective onshore gas acreage in Western Australia as part of the Energy division's focus on exploration and development of cleaner, cost-effective power solutions supporting MinRes' operations and broader market needs. No wells were reported drilled on the Carnarvon Basin acreage in FY25 and no reserves or resources are disclosed for the JV acreage in this report.
Oil & Gas metrics
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Perth Basin Exploration Joint Venture
District · Exploration · Ownership 50%
Project information
Description
50/50 conventional gas exploration joint arrangement with Hancock Prospecting over MinRes' remaining onshore Perth Basin exploration acreage, formed as part of the December 2024 $1.1 billion gas transaction under which MinRes sold 100% of Exploration Permits 368 and 426 (hosting the divested Lockyer Gas and Erregulla Oil discoveries) to Hancock for $780 million upfront consideration. The JV's first well, Dandaragan Deep-1 in EP 507, was drilled to 4,843 m MDRT with oil and gas shows over 1,000 m but no measured gas pay, and was plugged and abandoned in May 2025. Bamberg-1, drilled in EP 389 to 4,750 m, encountered multiple stacked gas pays and was cased and suspended for a future flow-testing program as a potential tieback to the Red Gully Gas Processing Facility. Drilling is supported by the MinRes Explorer rig (capable of 5,000 m depth), in which Hancock acquired a 50% interest for $24 million; since August 2024 the rig has drilled 21,218 m over 241 days on five Perth Basin wells.
Oil & Gas metrics
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Suspended · 1 project
Bald Hill
Asset · Suspended
Project information
As at 30 June 2025
Description
As at 30 June 2025
Wholly-owned hard-rock lithium (spodumene) mine in the Goldfields region, acquired in November 2023 and transitioned into care and maintenance in November 2024 following a strategic review, given prevailing market conditions and its position as MinRes' highest cash-cost operation. The decision aimed to preserve capital and retain the value of the ore body; around 300 affected employees were largely redeployed to other MinRes operations and a small crew remains on site to maintain operational readiness. No drilling activities were conducted during the third and fourth quarters of FY25 in line with the care and maintenance status, and a $337 million post-tax impairment was recognised on the project in December 2024. Bald Hill remains positioned to resume operations once the lithium market improves.
Mining metrics
As at 30 June 2025
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Royalties & streams
All royalty and stream interests in the database that refer to this asset by name.
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Lithium
Iron
Copper uses kt Cu bands; lb-scale copper resources are converted to kt. Lithium grade uses hard-rock % Li₂O bands unless brine-style extraction or brine units appear on featured projects.
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