Mineral Resources posts $896m loss after hefty impairments
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The news: Mining group Mineral Resources swung to a net loss of $896 million for the 2025 financial year, down from last year's $125 million net profit, as the company pointed to weak lithium and softer iron ore markets during the period.
The numbers: Analysts expected MinRes to post a smaller net loss of $759.92 million, according to Visible Alpha data. The result included $632 million in post-tax impairment charges, most of which had been previously flagged.
Revenue fell 15% year on year to $4.5 billion, with analysts anticipating a result of $4.43 billion.
The context: MinRes said lower annual revenue was driven by weaker iron ore and lithium pricing, partly offset by the ramp-up of its Onslow Iron project in the West Pilbara region.
Profit was impacted by a series of impairments during the year, including $192 million relating to collapsed garnet miner Resource Development Group, $337 million following the closure of its Bald Hill lithium mine and $41 million on other lithium tenements.
The source: ASX
