ASX Mining Stocks, Mineral Resources, Fortescue maintain growth
Mineral Resources and Fortescue have entered their next phase of growth backed by major strategic transactions, operational momentum and disciplined capital management.
Mineral Resources Limited (ASX: MIN)
now has a market capitalisation of $11.81 billion and on 12 November 2025 announced a major binding agreement with POSCO Holdings to establish a new joint venture for its lithium business.
The share price has risen 66% over the past 12 months and under the deal, POSCO will pay upfront cash of US$765 million to acquire a 15% stake in each mine while MinRes will retain 70% ownership along with the operating role.
The company recorded a strong start to the financial year with iron ore shipments of 11.4 million tonnes on a 100% basis and Onslow Iron reached its full 35Mtpa run rate between August and October.
In Q1 FY26, Onslow shipped 8.6 million tonnes which is 50% higher than Q4 and this performance positions the company to receive a $200 million contingent payment from Morgan Stanley Infrastructure Partners.
Mineral Resources is also progressing multiple gas exploration wells across the Perth and Carnarvon basins while the POSCO transaction is expected to complete in the first half of 2026 and construction at the Lamb Creek development is planned for Q2 FY26.
With $1.1 billion in available liquidity and the refinancing of its US$700 million notes which lowered interest costs and extended maturity to 2031, the company appears well placed to support its asset pipeline and deliver another year of growth in FY26.
Fortescue Limited (ASX: FMG)
on 15 December 2025 announced that it had entered into a binding agreement to acquire the remaining 64% of Alta Copper for C$1.40 per share in cash which values Alta Copper at C$139 million and expands Fortescue’s copper exposure through the long-life Canariaco Project in Peru.
The company has a market capitalisation of $70.26 billion and started FY26 strongly with record iron ore shipments alongside continued progress towards its decarbonisation objectives.
During the September 2025 quarter, Fortescue shipped 49.7 million tonnes of iron ore which was up 4% year-on-year marking its highest ever first-quarter shipment record while capital expenditure for the period stood at US$908 million.
By the end of the quarter, the company held US$4.6 billion in cash while net debt was US$1.9 billion after the payment of the FY25 final dividend of US$1.2 billion.
Fortescue also released its 2025 Climate Transition Plan outlining a clear pathway to achieve Real Zero emissions by 2030 and raised around US$2 billion through a Renminbi-based syndicated term loan.
(Source: Company Announcements)
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