The ‘very aggressive and ambitious’ plan to double MinRes within 12 months
The diversified miner has ambitions to corner lithium in Australia, break the country's iron oligopoly, get into oil, and build billion-dollar gas facilities – all at once.
If Chris Ellison has bitten off more than he can chew at Mineral Resources, he’s showing no signs of slowing.
Over the next 12 months, and in short order, MinRes is looking to build a $1 billion gas facility, break into oil, take on Australia’s largest four iron ore producers, run the largest fleet of autonomous road trains in the world, and push into battery chemicals. And it remains hungry for lithium projects to bolster its position as the country’s second-largest producer of the critical mineral.
It’s the kind of growth appetite that has transformed the company from a humble mining services provider into a $12 billion diversified miner, knocking at the door of its largest rivals across commodities.
“I guess we can call ourselves a major now,” head of corporate strategy Tim Picton told Capital Brief. Yet MinRes’ expansion plans are far from letting up, as Picton underlines in the very next breath.
