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AAP
AAP
Business
Marion Rae

MinRes set up for 'excellent year' as lithium pays off

MinRes lithium Mineral Resources Chris Ellison

Record earnings from lithium have driven a strong first half for mining company Mineral Resources, and it expects an even stronger second half.

MinRes on Friday posted a five-fold increase in underlying earnings before interest, tax, depreciation, amortisation and impairment of $939 million for the six months to December 31.

Net profit was $390 million, up $370 million from the same period last year, driven by lithium earnings after spodumene concentrate from its Mt Marion and Wodgina operations was converted into lithium battery chemicals.

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