Mineral Resources Limited, commonly known as MinRes, is a Western Australian mining services company.
 | |
| 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 |
History
editMineral 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
editMineral 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
editHaving 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