Mineral Resources has announced that it has delivered the strongest financial result in its 20-year history on the Australian Securities Exchange, with record revenue, earnings and cash flow prompting the company to reinstate its dividend.
The company recorded $6.5 billion in revenue for the 2025-26 financial year (FY26), up 44 per cent, while underlying earnings before interest, tax, depreciation and amortisation (EBITDA) surged 183 per cent to a record $2.6 billion.
“The past 12 months stand among the most significant in MinRes’ history,” MinRes managing director Chris Ellison said.
“Record operational and financial results reflect years of strategic investment, positioning the company to enter its third listed decade with a stronger foundation than at any point in our 20-year journey on the ASX.”
These results were supported by record volumes across MinRes’ divisions, the ramp-up of its Onslow Iron operation in Western Australia and improved lithium prices and performance.
Onslow Iron generated $909 million in underlying EBITDA after reaching nameplate capacity of 35 million tonnes per annum in August 2025.
Lithium also made a stronger contribution, with underlying EBITDA reaching $771 million on record volumes and improved prices during the second half of FY26.
The strong financial performance also allowed MinRes to strengthen its balance sheet. Free cash flow reached $849 million, while liquidity more than doubled to $2.4 billion.
Net debt fell by $1.1 billion to $4.3 billion, reducing the company’s net-debt-to-underlying EBITDA ratio from 5.9 times to 1.7 times.
MinRes has declared a fully franked FY26 final dividend of 83 cents per share, representing a 20 per cent payout of underlying net profit after tax (NPAT). The dividend is due to be paid on September 30.
MinRes is forecasting further growth across its operations in FY27, including Mining Services volumes of 370-390 million tonnes.
“Our priorities for FY27 are to achieve guidance across all divisions, execute low-risk, high-returns brownfield investments, continue to strengthen the balance sheet and ensure MinRes is positioned for our next phase of growth within our significantly improved governance frameworks and capital allocation model,” Ellison said.