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Mining giant posts $800 million loss

Summary by Sydney Morning Herald

It's going from bad to worse for mining magnate Chris Ellison as his company Mineral Resources posted a loss of more than $800 million.

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Sydney Morning Herald

Mining giant posts $800 million loss

It's going from bad to worse for mining magnate Chris Ellison as his company Mineral Resources posted a loss of more than $800 million.

3 days ago·Sydney, Australia

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The West Australian

MinRes implodes to an $807 million loss

Lithium price carnage and the adverse effect of a strong US dollar on its huge debt pile has dragged Chris Ellison’s Mineral Resources deep into the red.

4 days ago·Australia

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Stockhead

Lithium and iron ore prices push MinRes to half-year loss

MinRes shares dive to more than four-year lows on half-year result Iluka maintains 4c final dividend ahead of rare earths refinery development Lycopodium smashed as payout cut Mineral Resources (ASX:MIN) has again dumped its dividend as bloodcurdling lithium prices sent its half-year performance deep into the red, while guidance for its new Onslow Iron project has also been reduced for FY25 due to wet weather in the Pilbara. Shares tumbled by …

4 days ago

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Mining Magazine

Ellison: MinRes is ‘weathering storms and coming out stronger’ - Mining Magazine Australia

The Ken's Bore Operations. Image: MinResThe six months to December 31 2024 were a mixed bag for Mineral Resources (MinRes), but managing director Chris Ellison is confident the company’s growing pains will be short-lived. MinRes’ underlying earnings before interest, taxes, depreciation, and amortisation (EBITDA) was down 55 per cent on the first half of 2024 to $302 million. Despite the dip, the company’s mining services reported a record underl…

4 days ago

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Business News

MinRes posts $807m loss

Mineral Resources has posted a half-year loss of $807 million driven by a major impairment on its Bald Hill lithium mine as it prepares to resurface the entire cyclone-hampered Onslow Iron haul road.

4 days ago

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