Iron ore, Leadership changes, Lithium, Mineral Resources, News, Recruitment

MinRes focuses on lithium delivery

Norwest Energy has urged shareholders to refuse Mineral Resources’ (MinRes) unsolicited $403 million takeover offer, calling it “opportunistically timed”.

MinRes has held its 2023 annual general meeting (AGM) where its business and growth strategy update was presented.

MinRes managing director Chris Ellison said the company is focused on the delivery of projects, specifically the construction of the Onslow iron project that is expected to ship around 35 million tonnes of iron ore per year, and the ramp up of three key lithium operations.

“This year is all about delivery,” Ellison said. “We’ll have three lithium mines that we’re ramping up now through to the middle of next year and first ore on ship from Onslow iron about June next year.”

The company is also focused on delivering onshore gas production by 2025.

MinRes has recently made waves in the WA lithium frenzy by acquiring 100 per cent of Pantoro’s lithium, nickel, copper and cobalt rights at the Norseman gold project.

The transaction was made after MinRes invested $19 million in up-and-comer Wildcat Resources, bumping its original 19.8 per cent stake to 19.94 per cent.

MinRes also recently raised its stake in Azure Minerals to 12.29 per cent, soon after the $1.63 billion SQM transaction was announced.

Some key leadership appointments were also announced at the AGM.

Denise McComish will join the MinRes board as an independent non-executive director and chair of the audit and risk committee. McComish is currently a non-executive director of Gold Road Resources, Macmahon Holdings and Beyond Blue.

Darren Killeen was promoted to chief executive of engineering and construction, which is MinRes’ new fifth business pillar. Killeen served as MinRes’ executive general manager – construction from January 2015 to November 2023.

MinRes general manager corporate legal Jenna Mazza has also been promoted to company secretary, taking effect from January 2024. Mazza has served as general manager corporate legal since March 2014.

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