SYDNEY, March 4, 2026, 18:09 (AEDT) — Market closed
Mineral Resources Ltd (ASX: MIN) slipped 0.6% to close at A$55.71 on Wednesday, trading as low as A$54.83 and hitting A$57.56 at its session peak. The company’s market cap stands around A$11.0 billion, based on Google Finance.
Investors are rethinking where Australian interest rates might head next, following GDP numbers that put growth at 0.8% for the December quarter and 2.6% year-on-year—the strongest since early 2023. Stephen Smith, partner at Deloitte Access Economics, said those results will keep the Reserve Bank of Australia “on high alert,” making a May rate hike more likely. Markets, for now, still price in roughly a 30% chance the RBA acts as soon as March. Reuters
Energy’s been just as volatile. Brent crude climbed 1.9% Wednesday, hitting $82.94 a barrel—levels last seen in July 2024—after strikes on Iran snarled exports and sent investors scrambling, according to Reuters. “The impact of the Iran war on EUR/USD boils down to one thing: energy,” wrote George Saravelos of Deutsche Bank. Reuters
MinRes on Tuesday pointed to a record first-half performance at its fully owned CSI Mining Services arm, with the broader Mining Services division putting out 166 million tonnes and logging EBITDA of $488 million—a 29% jump on last year. Mike Grey, CEO of Mining Services, said the team “delivered an exceptional result” during the first half of FY26, citing added crushing capacity and fresh next-generation crushers now working at the Onslow Iron project. (EBITDA refers to earnings before interest, taxes, depreciation and amortisation.) Mineral Resources
CSI’s mining services business usually offers more stability than the swings tied to commodity prices, yet it trades right alongside iron ore and lithium stocks whenever risk sentiment sours. Shifts in rate outlooks and diesel prices sometimes outpace the real underlying fundamentals.
The stock’s swings haven’t let up. Mineral Resources slid 6.1% last session, ending at A$56.04, Reuters data shows.
The cash market is closed, so traders Thursday are eyeing oil, tracking bond yields, and gauging if rate-hike bets solidify ahead of the RBA’s March 16-17 meeting. When the tape’s under pressure like this, miners and contractors often find it tough to keep any gains, even with solid ops updates.
The risk scenario isn’t hard to see here. Extended trouble in the Gulf could send energy and freight prices climbing. Higher rates may put the brakes on demand and squeeze valuations. As for MinRes, execution hiccups or a shift in lithium sentiment could hurt.
MinRes is set to deliver its March-quarter report on April 30, according to the investor calendar. The June-quarter update lands July 29, and full-year results are scheduled for August 27.
