Higher lithium output drives MinRes revenues

The company reported increased mineral sales of 3.5-million tonnes of direct shipping ore (DSO) in the 12 months to June, up by 2.8-million tonnes on the previous financial year.

Some 382 000 t of lithium spodumene was also sold from the Mount Marion operation, up 266 000 t from the sales reported in 2017.

Revenue for the full 2018 reached A$1.7-billion, up from the A$1.4-billion in 2017, while earnings before tax, depreciation and amortisation was up from A$464-million to A$507-million.

Our financial results continue to reflect the financial strength and stability of the group’s core mining services business, together with its ability to successfully bring new services and commodity projects on line in record time,” said Mineral Resources MD Chris Ellison.

“The impact of the growth delivered this year will be seen in 2019 and beyond, as we create long-term earnings capacity through the development of world-class resource assets."