Mineral Resources
 | |
| ASX: MIN | |
| Industry | Mining |
| Founded | July 2006 |
| Founder | Chris Ellison |
| Headquarters | |
Area served | Goldfields, Pilbara |
Key people | James McClements (Chairman) Chris Ellison (Managing Director) |
| Products | Iron ore, lithium |
| Services | Mining services |
| Revenue | $5.3 billion (2024) |
| $158 million (2024) | |
Number of employees | 8,500 (2024) |
| Website | www.mineralresources.com.au |
Mineral Resources Limited, commonly known as MinRes, is a Western Australian mining services company.
History
[edit]Mineral Resources was established in July 2006 when pipeline manufacturing and contracting business PIHA, Crushing Services International and Process Minerals International merged and was listed on the Australian Securities Exchange.[1][2][3]
In November 2023 the Bald Hill Lithium and Tantalum Mine was purchased.[4][5] In November 2024 the mine was closed and put into care and maintenance after a collapse in lithium prices.[6][7]
In June 2024, Mineral Resources announced it would shut down its Yilgarn iron ore hub by the end of the year after it was deemed financially unviable.[8]
Operations
[edit]Mineral Resources operates two iron ore hubs: Utah Point Hub in Port Hedland and Yilgarn Hub in Esperance. Mines are operated at Iron Valley, Koolyanobbing and Kumina.[9]
Mineral Resources is involved in bulk ore transportation in the Pilbara.[10][11] In 2014, Mineral Resources purchased six UGL Rail C44aci locomotives and 382 iron ore wagons taking over the operation of its services from Aurizon.[12][13]
Minerals Resources operates two hard rock lithium mines in Western Australia; Mount Marion in the Goldfields,[14] and Wodgina in the Pilbara.[15][16]
MinRes Air
[edit]Having previously relied on other air service providers to operate flights for its fly-in fly-out workforce, in July 2024 MinRes Air was launched with a former Tigerair Airbus A319 on services between Brisbane and the Pilbara with plans to introduce a Perth service.[17][18][19]
Initially the services are being operated by Skytraders, pending MinRes Air being granted its own air operator's certificate. In July 2024 a former Air France Airbus A320 was leased.[20] Mineral Resources has a 50% shareholding with the balance owned by Multiplex heir Tim Roberts.[21]
References
[edit]- ^ Mineral Resources Limited: Admission to Official List Australian Securities Exchange 26 July 2006
- ^ Dickson, Alan (April 2019), "Mineral Resources Limited", Equity, 33 (4): 16–17, ISSN 1323-5303
- ^ MinRes turns $50m Pilbara Minerals stake into $330m Australian Financial Review 5 September 2021
- ^ MinRes pays $260m for mine in WA lithium heartland Australian Financial Review 22 November 2023
- ^ MinRes acquires Bald Hill lithium mine Mineral Resources 23 November 2023
- ^ Lithium mine to close in WA putting 300 jobs at risk Nine News 13 November 2024
- ^ MinRes mothballs Bald Hill lithium mine Business News 13 November 2024
- ^ Burton, Jesinta (19 June 2024). "'Prudent but difficult': Mineral Resources announces Yilgarn shutdown, 1000 jobs affected". WAtoday. Retrieved 22 June 2024.
- ^ MinRes to supercharge iron ore export capacity Australian Mining 20 November 2020
- ^ Pilbara Bulk Ore Transportation System : Mineral Resources Limited, Environmental Protection Authority of Western Australia, 2016, retrieved 14 September 2021
- ^ Western Australia. Environmental Protection Authority; Mineral Resources Limited (2017), Jackson 5 and Bungalbin East Iron Ore Project : Mineral Resources Limited, Environmental Protection Authority of Western Australia, retrieved 14 September 2021
- ^ New rail fleet hits the tracks at Carina iron ore mine Australian Mining 25 July 2014
- ^ Mineral Resources buy their own Trains Railway Digest May 2014 page 30
- ^ "Australias Mt Marion lithium mine beats guidance". Argus Media. 30 July 2021. Retrieved 15 September 2021.
- ^ "Lithium". Mineral Resources. Retrieved 15 September 2021.
- ^ "Mines statistics highlight reductions at Wodgina". Australianmining.com.au. 1 August 2018. Retrieved 15 September 2021.
- ^ Qantas subsidiary staff flock to a new airline that could shake up FIFO networks Crikey 20 May 2024
- ^ First MinRes Air flight takes to the skies MinRes 4 July 2024
- ^ MinRes Air takes off Australian Mining 8 July 2024
- ^ MinRes Air Aviation Week Network 15 July 2024
- ^ MinRes Air propelled by Tim Roberts Australian Financial Review 1 September 2024
