Mineral Resources (MinRes) has raised its full-year lithium volume guidance to capitalise on higher prices as it reported strong performance for the second quarter to December 31, 2025.
The diversified miner upgraded its expected production at its Wodgina mine to between 260,000 dry metric tonnes (dmt) and 280,000 dmt, from a previous guidance of 220,000 dmt to 240,000 dmt.
Lithium volume guidance for MinRes’ Mt Marion project was upgraded from between 160,000 to 180,000 dmt to 190,000 to 210,000 dmt.
MinRes maintained cost guidance for both operations.
Lithium operations reported strong performance in the second quarter, with total attributable spodumene production reaching 138,000 dmt of SC6, while sales totalled 143,000 dmt.
The company achieved an average realised price of US$1, 094/dmt CIF, representing a 29 per cent increase on the previous quarter.
Iron ore shipments from the Onslow project in the second quarter came in at 8.7 million wet metric tonnes (wmt) and 17.3 million wmt in the first half.
Meanwhile, Pilbara Hub shipments fell by 13 per cent to 2.4 million wmt.
MinRes reported a reduction in net debt to AU$4.9 billion from AU$5.4 billion, demonstrating the company’s rapid deleveraging as Onslow Iron operates at nameplate capacity.
Liquidity as of December 31, 2025 was in excess of AU$1.4 billion, with more than AU$600 million in cash.
