The Mineral Resources Ltd (ASX: MIN) share price is in focus today after the company upgraded FY26 volume guidance across several key mining operations and reported a strong 92% jump in average lithium prices for the quarter.
What did Mineral Resources report?
- Onslow Iron shipped 7.2Mt in Q3 FY26, with volume guidance upgraded for FY26 to 17.7â19.4M wmt.
- Mining Services FY26 production guidance lifted to 320â330Mt (from 305â325Mt).
- Quarterly attributable spodumene concentrate production (Wodgina & Mt Marion) was 127k dmt SC6, with sales of 115k dmt SC6 at an average price of US$2,105/dmt (up 92% quarter-on-quarter).
- Liquidity increased to $1.8 billion, while net debt was lowered to circa $4.5 billion (from $4.9 billion).
- FY26 lithium volume guidance lifted at Wodgina (270â290k dmt SC6) and Mt Marion (210â230k dmt SC6).
- No disruption to fuel supply or operations amid geopolitical tensions; cost guidance maintained across divisions.
What else do investors need to know?
The March quarter saw some interruptions due to tropical cyclones, but key infrastructure across Onslow Iron remained undamaged, with production quickly returning to normal. Mining Services renewed two contracts and completed another, while the Lamb Creek iron ore project achieved its first ore on ship and continues to ramp up as planned.
The company strengthened its capital structure by issuing US$1.3 billion in new Senior Unsecured Notes post quarter-end, primarily to refinance higher-interest notes and further lower existing debt. MinRes’ liquidity position is healthy, with nearly $1 billion in cash and an unused $800 million revolving credit facility at quarter’s end.
What’s next for Mineral Resources?
Mineral Resources is sticking to its strategy of expanding production across both iron ore and lithium, with upgraded FY26 targets reflecting strong operational momentum. Despite higher fuel costs expected in the June quarter, cost guidance has been maintained, and the company continues to pass increased fuel expenses through to customers for its Mining Services division.
The group is progressing project developments, including exploration at Onslow Iron and lithium growth options like the potential restart at Bald Hill and a possible flotation plant at Mt Marion to improve recoveries. Preparations are also underway for further energy exploration drilling in the Perth and Carnarvon Basins.
Mineral Resources share price snapshot
Over the past 12 months, Mineral Resources shares have risen 201%, outperforming the S&P/ASX 200 Index (ASX: XJO) which has risen 7% over the same period.
The post Mineral Resources upgrades FY26 volume guidance and posts robust lithium prices appeared first on The Motley Fool Australia.
Should you invest $1,000 in Mineral Resources right now?
Before you buy Mineral Resources shares, consider this:
Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Mineral Resources wasn’t one of them.
The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
And right now, Scott thinks there are 5 stocks that may be better buys…
* Returns as of 20 Feb 2026
.custom-cta-button p {
margin-bottom: 0 !important;
}
More reading
- Liontown posts record net cash flow and hits underground mining targets
- Stockland reports higher 3Q26 sales and maintains FY26 guidance
- Woolworths Group Q3 sales grow as shoppers turn to value and convenience
- Champion Iron announces production gains and new growth projects
- South32 Hermosa project boosts reserves and mine life in FY26 update
Motley Fool contributor Laura Stewart has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.