Mineral sands downturn forces $565m Iluka adjustment

MinRes meets the mark in Q4 Mineral Resources (ASX: MIN) met FY25 production guidance across its iron ore and lithium operations amidst significant leadership transition. FY25 production volumes were 280mt, up 11mt year on year, and at the lower end of the guidance range (280 – 300mt). During the quarter, the MinRes board appointed Malcolm Bundey as an independent non-executive director. Mr Bundey assumed the position of chair on July 1, with an immediate focus on continued board renewal, strengthening governance, Onslow Iron and balance sheet repair. This follows the announcement in late 2024 that Chris Ellison would step down...

Westgold begins mining at Bluebird Westgold (ASX: WGX) has commenced mining at its South Junction Lode within the Bluebird-South Junction mining complex at Meekatharra, WA. The ramp up targets a 100kt per month run rate for the Bluebird-South Junction mine by Q3 FY25. The drilling results have returned significant intersections from both the Polar Star and South Junction Lode positions. Of great significance is an intersection of 8.83m at 15.31g/t gold being the most southern hole drilled to date with the mineralised system remaining open to the south. Westgold managing director and...

Fenix to acquire CZR Fenix Resources (ASX: FEX) will acquire CZR Resources (ASX: CZR), creating a large-scale, diversified iron ore mining and logistics business operating in both of WA’s major iron ore regions — the Mid-West and the Pilbara. The combined entity will benefit from Fenix’s demonstrated operational expertise and profitability across its mining, logistics and port businesses and CZR’s 85% interest in the substantial Robe Mesa iron ore project and plans for securing approvals to construct bulk loading facilities for the export or iron ore at the existing Port of...