Mineral Resources stock holds FY27 guidance after record Q1 volumes

Published on 10/30/2026 at 18:40 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Mineral Resources stock kept FY27 guidance unchanged after record mining services volumes in the September quarter. Net debt also fell.

Operational Momentum Meets Cost Pressure

Mining Services production reached a quarterly record of 103 million tonnes in the three months through September.
Attributable lithium sales rose to a record 170,000 dry metric tonnes of SC6, while realised prices declined.
Net debt fell to approximately AUD 4.1 billion, and FY27 production and cost guidance remained unchanged.

Mineral Resources, AU000000MIN4, Illustration mit AI erstellt.

Mineral Resources Limited reported a strong operational start to fiscal 2027 in its quarterly activity report for the three months ended September 30, 2026. The company report, published on October 23, said FY27 production and cost guidance was maintained across all divisions.

Record volumes support FY27 outlook

Mining Services production reached a quarterly record of 103 million tonnes, up 10 percent from the previous quarter. Onslow Iron shipped 9.2 million wet metric tonnes on a 100 percent basis, while its attributable FOB cost was AUD 53 per wet metric tonne, below the FY27 guidance range of AUD 54 to AUD 58.

Attributable lithium sales also reached a record at 170,000 dry metric tonnes of SC6, an 8 percent quarterly increase. The volume performance came alongside weaker pricing: the weighted average realised SC6 price was USD 1,873 per dry metric tonne, down 23 percent from the previous quarter as spot lithium prices fell.

Debt improves as fuel costs rise

Net debt declined by approximately AUD 200 million to AUD 4.1 billion, while liquidity increased to AUD 2.5 billion. Fitch upgraded Mineral Resources' credit rating to BB with a stable outlook in September, citing capital allocation discipline, deleveraging and expanding operations.

Higher diesel prices remain a cost risk for the next quarter. Prices reached approximately AUD 1.60 per litre in September, compared with the AUD 1.25 assumption in FY27 FOB cost guidance. Mineral Resources said it still expects full-year FOB costs to remain within guidance.

What investors should watch next

Onslow Iron's dredging campaign is scheduled to resume in mid-November and finish by the end of the second quarter of FY27, with only a minimal volume impact expected. At Mt Marion, a flotation plant is under construction, while Bald Hill is ramping up its dense media separation plant.

Mineral Resources stock traded at 27.71 euros on Lang & Schwarz at 18:35 CET on Friday, October 30, 2026. Investors can follow the real-time quote of Mineral Resources stock.