Mineral Resources to cease Lucky Bay operation, flags $40m FY26 impairment

The news: Mineral Resources has flagged a $40 million non-cash impairment that will impact its full-year results following the decision to cease operations at Lucky Bay.

The context: The Western Australian project, first acquired by the company in September 2025, has been materially impacted by elevated diesel and shipping costs stemming from the ongoing Middle East conflict.

The miner will cease operations and transition the project into care and maintenance on 1 July. The decision follows a board determination that the suspension serves the best interests of the company and its shareholders, with a potential divestment under consideration.

The decision is projected to affect at least 110 employees, whom the company will support through redeployment opportunities where suitable.