Mineral Resources Limited

MinRes has received unconditional approval from the Foreign Investment Review Board for the sale of a 49% interest in the Onslow Iron haul road to investment funds managed by Morgan Stanley Infrastructure Partners for total expected proceeds of $1.3 billion. Completion of the transaction is due to occur within 15 business days, when MinRes will receive the upfront cash consideration of $1.1 billion. A deferred cash consideration of $200 million will be paid to MinRes once Onslow Iron achieves 35Mtpa run rate.

Having completed MinRes' two-year Graduate program, Environmental Advisor Rebecca Orton is now supporting our Iron Valley, Wonmunna and Phil’s Creek operations. Our Graduate program provided Rebecca with hands-on exposure to our business – including access to nearly all of MinRes' operational mine sites – plus she enjoyed a rewarding experience as part of the Emergency Response team in Onslow. Rebecca’s role directly influences MinRes' environmental practices and performance by ensuring adherence to relevant site management, compliance and approvals.

🌞 Sunrise over Mt Marion lithium stockpiles 🌞 This awesome shot was taken by MinRes electrician Bronty Greaves on her iPhone 13 Pro while undertaking routine checks at work. 🤩 A keen photographer, Bronty said “moments like these make work even more enjoyable, especially when you can share them with others through photos." 📸 🌅 Bronty's carving out a successful career and has been a valued member of our Mt Marion team since 2022. She thinks it's the people who make the place. "It’s a great place to work and I can see a real career path; there’s always a next step.”

Onslow Iron has now loaded one million tonnes of iron ore onto ocean going vessels since achieving first ore on ship in May 2024. This transformational project harnesses MinRes' crushing, haulage and marine innovations to transport ore from the West Pilbara to Capesize vessels anchored 40km offshore from the Port of Ashburton. Onslow Iron is now ramping up production to 35Mtpa, with an expected mine life of more than 30 years.

MinRes Senior Closure Advisor Matilda Greenslade recently presented at the Western Australian Ground Control Group (WAGCG) Open Pit Forum, to highlight where geotechnical inputs are critical in mine closure planning. The WAGCG provides a forum for industry collaboration on ground control practices in the mining industry, welcoming contributions from those with geotechnical expertise in mining, consulting, contracting and supply companies, universities, and government. MinRes implements a framework to transition into mine closure effectively, recognises risks to be managed, and creates a culture where planning for closure is considered at each stage of development.

A warm MinRes welcome to Vivien, Kyra and Jessica - the first Entry Level Operator program participants from our Bald Hill lithium mine. 🚜 MinRes' ELO program provides first-class training and support for those looking to kick-start a rewarding career in the mining industry. Our newest operators have settled into their crew swings operating CAT 785s and will progress to CAT 789s once they complete the program. Well done ladies 👏

Meet dynamic MinRes father-and-son duo, Steve and Damo. 👨👦 Both are stationed at our Ken’s Bore mine, part of the Onslow Iron project, with Damien in the role of Fixed Plant Operator and Steve as Compliance Trainer. Steve says “knowing Damo is working for MinRes gives me and my wife, Karen, the peace of mind knowing he's on a strong career path and can make a lasting contribution.” He also spoke candidly about how MinRes' family values shone through during his darkest days when he had just started with the business. “When I started with CSI my wife was pregnant with baby number seven. Our son, Xander was born with major heart issues and sadly passed away at five days' old. MinRes supported me and my family with time off to deal with everything. Nothing can prepare you for something as traumatic as that, but the support we had as a family was incredible.” Away from work, Steve and Damien both watch Formula 1, play Lego and enjoy good food. Happy Father’s Day to Steve and all the dads out there. We hope you have a wonderful day.

We're helping MinRes employees navigate their work environment through virtual 360 tours of all our operational sites. The interactive platform allows users to virtually explore workplace, accommodation, dining and recreation facilities, and provides an aerial view of our mine operations. Whether they're supporting our regional operations or in office-based roles in Perth, our people enjoy a more engaging experience through these innovative online tours.

Today we announced our FY24 Full Year Results for the period ended 30 June 2024, including solid underlying financial results and cash flow despite challenging commodity markets. MinRes’ financial performance included revenue of $5.3 billion and Underlying EBIDTA of $1.1 billion. Operational achievements: - Record Mining Services earnings of $550 million, up 8%. - Record lithium shipments from Mt Marion and Wodgina mines. - Delivery of Onslow Iron first ore on ship ahead of schedule in May 2024. - Further success in our onshore natural gas exploration program. Managing Director Chris Ellison said the year's results highlight the strength of MinRes’ business model, with our diverse income streams contributing to solid group earnings, despite depressed lithium prices. More details are available at our website: https://lnkd.in/g5mMsdet

Last month we joined Ear Science Institute Australia at the Shire of East Pilbara's Newman Train Park for a Kunyjunyu Kurlka event, which translates to 'healthy ears' in Martu language. An afternoon was spent cooking a yummy barbecue for 64 community members, while Ear Science and other stakeholders spread the word about the importance of ear and hearing health, eating healthy food and staying active. Thanks to everyone who made this a great event!