MinRes: record lithium shipments in Q4

Mineral Resources (MinRes) (ASX: MIN) reports a productive Q4, with record lithium shipments and high lithium prices across all operations.

WA lithium operations Wodgina and Mt Marion both reported record shipments up 41% and 46% respectively from Q4 of 2023.

Lithium operations benefitted from high prices, with a weighted average realised price across all operations of about $1479/dmt (US$970/dmt) in Q4, an increase of 15% from Q3.

Total quarterly iron ore shipments increased by 6% from Q3 to 18.1Mwmt within guidance, with MinRes delivering its first iron ore on ship ahead of schedule from Onslow iron in WA.

MinRes also announced in Q4 that iron ore exports from the Yilgarn hub in WA will cease by the end of 2024. Operations will safely ramp down over the next six months, with up to 4.0Mwmt expected to ship.

Safety remained a priority in Q4, with a Lost Time Injuries Frequency Rate (LTIFR) of 0.14 and a rolling 12-month Total Reportable Injury Frequency Rate (TRIFR) of 2.74.

MinRes has a number of new developments underway, including the acquisition of BCI Minerals’ Iron Valley assets in WA and a haulage contract to transport bauxite ore in northern Queensland which commenced this quarter.