According to Australian mining company Mineral Resources Limited (MinRes), the company achieved its strongest financial results for the first half of the year in the six months ended December 31, 2025, primarily driven by the results of its iron ore operations, in particular the Onslow Iron project.
The Ministry of Regional Development reported record revenue of A$3.1 billion in the first half of fiscal year 2025-26, up 33% from the previous year, while core EBITDA increased by 286% to A$1.2 billion. The underlying net profit after taxes was A$343 million, an increase of 275% year-on-year.
Onslow Iron becomes a key profit driver
According to Chris Ellison, managing director of MinRes, the result was driven by operational performance rather than extreme commodity prices, underscoring the resilience of the company's asset base.
Onslow Iron reached its nominal capacity of 35 million tons per year in August 2025 and maintained this figure for half a year. The project operated at a FOB price of A$52 per wet metric ton and contributed A$519 million EBITDA to the iron ore division in the first half of this fiscal year.
In 100% terms, Onslow Iron produced 17.3 million tons. WMT for half. With the arrival of additional shippers scheduled for mid-2026, the installed capacity is expected to increase to 40 million tons per year.
Pilbara Hub Productivity
Mines’ Pilbara Hub produced 5.1 million tons during this half-year,
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