Mineral Resources Limiteds Q4 Highlights

In the world of mining and clean energy, Mineral Resources Limited (ASX: MIN) has been making waves with its impressive achievements in Q4. The company has demonstrated its unwavering commitment to safety, production growth, and innovation as it progresses towards a more sustainable future. With a focus on transparency, the recent quarterly report highlights several key points, including safety performance, iron ore and lithium production volumes, as well as important developments in their ongoing projects. As the industry and investors eagerly await the company's next moves, let's delve into the trending news that has captured the attention of stakeholders worldwide.

Source: Kapitales Research

• Safety Remains a Top Priority: Despite a strong safety performance in Q4 with only 0.15 Lost Time Injuries and a Total Reportable Injury Frequency Rate of 2.21, there was a tragic incident at the Onslow Iron Project where an employee lost his life. Senior management, including Managing Director Chris Ellison, visited the site to provide support, and an investigation into the incident is ongoing.
• Mining Services Production Volumes: The company achieved 58 million tonnes of production during the quarter, meeting its revised guidance of 245-255 million tonnes for the fiscal year. They also commissioned a new crushing plant and extended a haulage contract with an external client.
• Iron Ore Shipments: In Q4, total iron ore shipments amounted to 4.3 million wet metric tonnes (wmt), resulting in a total of 17.5 million wmt for FY23. The average realized iron ore price was US$91 per dry metric tonne (dmt), with a quarterly product discount of 11%.
• Onslow Iron Project Progress: The project received all major approvals, and the first ore-on-ship delivery is expected in June 2024.
• Mt Marion Lithium Operations: Quarterly shipments of SC6 equivalent spodumene were 39k dmt, reaching a total of 149k dmt for FY23. The average realized spodumene price was US$2,589 per dmt.
• Wodgina Lithium Operations: Quarterly shipments of SC6 equivalent spodumene were 34k dmt, bringing the FY23 total to 143k dmt, slightly below revised guidance. The company produced 11.5kt of lithium battery chemicals and sold 7.3kt in FY23.
• Changes in Albemarle Transaction: MinRes amended the terms of its transactions with Albemarle. MinRes will no longer invest in any Chinese conversion assets, and Albemarle will take full ownership of the Kemerton lithium hydroxide plant.
• Exploration and Development Activities: The company received all major approvals for the Onslow Iron Project and conducted drilling programs targeting Direct Shipping Ore (DSO) and magnetite potential at various sites.

Mineral Resources Limited is continuing its efforts to ensure safety, expand mining services, and make significant advancements in its iron ore and lithium operations. The company's strategic changes and progress in major projects have attracted attention in the market, making it a significant player in the mining and resources industry.

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