Sydney, Feb 24, 2026, 17:50 (AEDT) — The market has wrapped up for the day.
- Mineral Resources climbed 6.5% to close at A$57.29, having earlier hit A$57.68.
- China lithium carbonate futures surged 7.2%, giving a boost to Australian lithium stocks.
- Eyes turn to inflation numbers coming midweek, with MinRes’ quarterly figures due April 30.
Shares in Mineral Resources Ltd (MIN.AX) picked up 6.5% to close at A$57.29 on Tuesday, having ranged from A$53.98 up to A$57.68 during the session. The stock outpaced the broader market, which finished flat.
Lithium carbonate futures in China jumped 7.2% to 159,300 yuan per tonne as trading resumed following the Lunar New Year holiday. Shares of domestic lithium companies, with MinRes among them, were tracking 5% to 7% higher by midday, according to Market Index.
Investors are still digesting MinRes’ first-half results, weighing the implications for its balance sheet. The miner posted an underlying net profit after tax of A$343 million, flipping back into the black on record underlying EBITDA of A$1.2 billion, according to Reuters’ Feb. 20 report. No interim dividend this time; the company is opting to pay down debt instead. Chair Malcolm Bundey described Onslow Iron as “a proven, cash-generative operation”. Kitco
MinRes reported free cash flow of A$293 million for the half, following A$587 million in capital expenditures, trimming net debt down to A$4.9 billion. Liquidity stood at A$1.4 billion. The company pointed to its November agreement: POSCO Holdings will pick up 30% of MinRes’s current 50% interest in Wodgina and Mt Marion, for US$765 million, with the cash expected to arrive in the second half of FY26. Guidance for FY26 volumes and costs remains intact, MinRes said.
It wasn’t only MIN catching a bid. Core Lithium surged 9.5%, and Liontown Resources was up 9.3% in afternoon deals, with Pilbara Minerals tacking on 7.3%, IG said in a market update. That same note pointed to Australia’s monthly CPI print, scheduled for Wednesday at 11:30 a.m. AEDT, as the next macro number on the radar for local traders.
Mineral Resources operates in Western Australia, with business lines spanning lithium, iron ore, energy, and mining services. That diversity brings volatility: when lithium sentiment jumps, shares often follow. But the market doesn’t ignore cost controls or production numbers, either.
Right now, traders see the China futures surge as evidence the lithium rebound isn’t dead yet. What comes next: does futures momentum push spot prices higher and contract terms tighter, or is this just a quick, one-day squeeze?
Lithium’s track record for yanking miners around isn’t new. Should demand stumble after the holiday reset, or if supply ramps up ahead of forecasts, the group can pivot fast — and MIN usually swings right along with it.
MinRes still needs to show that the heavy investment at Onslow is now in the rearview—and that its debt continues to trend down. If costs flare up, or shipment numbers or guidance slip, sentiment could shift quickly.
MinRes is set to deliver its next quarterly update on April 30, with investors eyeing fresh details on lithium production, shipment figures out of Onslow, and any movement on the balance sheet strategy.
