PERTH, June 18, 2026, 07:03 (AWST)
- Mineral Resources finished up 1.7% at A$71.97, still trading roughly 4% under its 52-week high.
- Lithium peers traded higher as well. The materials sector was up 1.1%, ahead of the ASX 200.
- El Niño and fresh G7 backing for critical minerals may give the sector a lift, though debt loads, execution issues, and commodity prices are still risks.
Mineral Resources ended up 1.7% at A$71.97 on Wednesday, closing near a 12-month high as traders picked up lithium stocks again. Shares touched A$73.00 intraday, just shy of their 52-week high of A$74.94. The stock outpaced the wider Australian market.
Mineral Resources is up 9.3% this week and nearly 30% since early 2026. With shares now higher, investors have fewer reasons to ignore possible delays or extra costs as the miner works to restart Bald Hill, grow Mt Marion, and boost output at Onslow iron ore.
Miners rallied Wednesday, pushing the S&P/ASX 200 up 0.54% to 8,966.3. Materials names traded strong and the sector rose roughly 1.1%. Lithium stocks PLS Group and Liontown Resources gained 2.8% and 3.9%.
Australian shares got a lift from materials, IG market analyst Tony Sycamore said, with the sector showing “a spring in its step.” Major materials names bounced after four losing sessions. But iron ore producers were still reacting to futures holding close to US$100 a tonne. Morningstar
Weather is in focus again. Australia’s Bureau of Meteorology this week said El Niño is underway, a pattern known for bringing hotter, drier weather to Australia. Macquarie listed Mineral Resources as one stock that could gain, saying less rain often means mines can run more consistently with fewer disruptions.
Disruptions from cyclones affected Onslow in the March quarter, lending some support to the argument. Mineral Resources kept its full-year Onslow volume forecast at 17.7 to 19.4 million tonnes. The company said liquidity reached A$1.8 billion as of March 31.
Late in the session, the policy backdrop for lithium also got a boost. G7 leaders said they would start coordinated support plans for lithium and nickel to help cut reliance on individual suppliers. Neha Mukherjee at Benchmark Mineral Intelligence called it “an important signal of intent,” but said it will take policy turning into real investment to drive diversification. Reuters
Mineral Resources is getting ready to restart Bald Hill, targeting first concentrate output in July and shipping on track for the September quarter. The site plans to deliver roughly 165,000 dry tonnes of 5.1% spodumene concentrate annually. Spodumene is the lithium mineral converted for battery use.
Mineral Resources and Ganfeng Lithium are set to put A$490 million into expanding Mt Marion. The company said it expects to pay off the investment in under a year at current spodumene prices. Managing Director Chris Ellison said the project should “lift recoveries and produce a single 5% product.” Mineral Resources
Risks are still out there. Mineral Resources had about A$4.5 billion in net debt by the end of March. Iron ore dropped 0.7% to near US$100.80 a tonne on Wednesday. The lithium run needs demand to keep up as new supply comes in. Share-price gains could get tested fast if there are any hold-ups at Bald Hill or Mt Marion, if prices weaken, or if weather hits again.
ASX cash trading was not open when this was published. On Thursday, local trade is set to get underway after the S&P 500 slipped 1.2% and the Nasdaq shed 1.3%. The Fed kept rates on hold and left the door open to more tightening.
