Mineral Resources Reports Significant Loss in FY25 Half-Year Financials

Mineral Resources Limited reported a challenging financial performance for the half-year ended December 2024, with revenue decreasing by 9% to $2.29 billion and a significant underlying net loss of $196 million. Despite these challenges, the Mining Services division achieved a record underlying EBITDA of $379 million, reflecting a 49% increase from the previous year. The Onslow Iron project is progressing well, with production ramping up and operating cash flow turning positive since November. The company also maintained strong liquidity with $1.52 billion available, including $720 million in cash. Managing Director Chris Ellison noted the dedication of the team in navigating this difficult period while emphasizing the potential of the Onslow Iron project to transform earnings quality. Overall, the company did not declare any interim dividends for 2025, signaling ongoing financial caution.