MinRes maintains guidance despite varied results
Diversified resources company Mineral Resources (MinRes) has maintained its guidance for all its operations, despite reporting a mixed set of results.
December quarter production volumes remained flat quarter-on-quarter at 68-million tonnes.
MinRes attributed the stable volumes to the ramp-up of Onslow Iron, which is progressing towards its 35-million-tonne-a-year nameplate capacity.
However, this performance was tempered by lower volumes at the Yilgarn Hub and Bald Hill, as those operations transitioned to care and maintenance
MinRes said it had redeployed more than 780 people from the Yilgarn Hub to other roles within the group. The company also confirmed that it was running a process regarding a potential sale of the iron-ore assets.
At the Bald Hill lithium operation, MinRes maintained or redeployed more than two-thirds of the operation’s 300 employees to other parts of the business. The company said the site was being maintained during the period and steps had been taken to ensure a quick restart.
At the Mt Marion and Wodgina lithium mines, MinRes has implemented several cost-reduction measures, including a change in workforce rosters. At Mt Marion, the company also reduced the digger fleet from four to two, and at Wodgina, mobile assets were demobilised. Combined, 320 roles have been affected by the cost-saving measures at the two mines.
This resulted in a reduction of about 190 roles and the demobilisation of mobile assets from the site that will either be sold or redeployed.
Production volumes will be weighted to the second half of the financial year, aligned with the ramp-up of the Onslow Iron project, which is progressing towards its nameplate capacity 35-million-tonne-a-year run rate.
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