Australia's Mineral Resources (MinRes) said it met guidance, producing 248 million metric tonnes (Mt) for the entire fiscal year.
MinRes (ASX:MIN) has a 50% interest in Marillana Project is located in the Hamersley Iron Province within the Pilbara region.
Total June quarter iron ore shipments were 4.3M wet metric tonne (wmt), resulting in FY23 shipments of 17.5M wmt.
Combined free on board (FOB) costs are expected to be at the upper end of the FY23 guidance range of $73-$83/t.
The average quarterly realised iron ore price was US$91 per dry metric tonne (dmt), representing an 82% realisation of the Platts 62% IODEX. The average quarterly product discount was 11%.
MinRes also has a lithium business. The uarterly Mt Marion SC6 equivalent spodumene shipments were 39k dmt (attributable), bringing FY23 shipments to 149k dmt, in line with revised guidance of 145-150k dmt. The FY23 SC6 equivalent FOB cost is expected to be within guidance of $1,200-$1,250/dmt. The average quarterly realised spodumene price was US$2,589 per dmt.
The expansion of the Mt Marion processing plant was completed in June 2023.
Mt Marion is operated by MinRes under a life-of-mine build-own-operate mining services contract and is jointly owned by MinRes and Jiangxi Ganfeng Lithium at 50% ownership for each.
MinRes traded up 4% today to $73.82.
