Mineral Resources Limited · ASX:MIN
Mineral Resources — Shareholder Meeting (November 2021)
26 slides from Mineral Resources's shareholder meeting presentation, Nov 18, 2021
Slide 1: AGM Presentation ASX announcement
18 NOVEMBER 2021 AGM PRESENTATION Mineral Resources Limited (ASX: MIN) (MRL or the Company) advises that Chairman, Peter Wade, and Managing Director, Chris Ellison, are addressing shareholders at the Annual General Meeting (AGM) at 9.30am AWST today. A copy of the presentation is attached to this re
Slide 2: Annual General Meeting
ANNUAL GENERAL MEETING 18 NOVEMBER 2021 ASX:MIN
Slide 3: Contents
CONTENTS OUR BUSINESS 03 FY21 PERFORMANCE HIGHLIGHTS 04 OUR STRATEGY 09 BUSINESS AND MAJOR PROJECTS UPDATE 14 2
Slide 4: Our Business
OUR BUSINESS One of Australia’s largest mining services contractors Significant commodities producer iron ore and lithium Developing energy business recent major gas discovery Perth Basin 3 3
Slide 5: FY21 Performance Highlights
FY21 PERFORMANCE HIGHLIGHTS 4
Slide 6: FY21 Highlights
FY21 HIGHLIGHTS PEOPLE • Employees numbers up 60% $2.75 • Safety performance improved 30% Dividends per share 175% on FY20 MINING SERVICES • Commissioned 15Mtpa NextGen 2 plant • Developed carbon fibre screens $3.7bn 38.6% Revenue ROIC • Jumbo road trains in operation 76% on FY20 After Tax • Product
Slide 7: FY21 Safety, People and Wellbeing
FY21 SAFETY, PEOPLE AND WELLBEING SHOW UP MRL IS A FAMILY, SO LET’S ACT LIKE ONE. Never accept bullying, racism, sexism, discrimination, sexual harassment or 5,000+ 2.31 0.12 any inappropriate behaviour. Employees and TRIFR2 LTIFR2 Contractors1 STAND UP LET’S STEP UP AND LOOK AFTER ONE ANOTHER. Let
Slide 8: FY21 Contribution to Society
FY21 CONTRIBUTION TO SOCIETY $693M $5.25M Taxes and Community Royalties Paid Contributions $1,296M 93% WA Procurement Australian Spend Supply Base FY21 key actions • 70+ community organisations supported • Increased Indigenous and local business support • Inaugural Modern Slavery Statement 7
Slide 9: FY21 Environmental Performance
FY21 ENVIRONMENTAL PERFORMANCE Addressing global climate change NET ZERO Emissions by 2050 Renewables FUEL Gas MIX Achievements Diesel • Reduced greenhouse gas intensity 5% • Increased water recovery via dry stack tailings 2°C Emissions Pathway2 Greenhouse Gas Emissions1 1.5°C Emissions Pathway • In
Slide 10: Mineral Resources Strategy
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Slide 11: Mining Services Strategy
MINING SERVICES STRATEGY WHERE ARE WE GOING? MINING WHERE ARE WE? Grow and expand to include transhipping, Crushing, Mining, Haulage port operations, critical infrastructure, SERVICES domestic LNG, large scale haulage HOW DO WE GET THERE? Iron Ore Lithium Energy Emerging Transition from a low-volume
Slide 12: Iron Ore Strategy
IRON ORE STRATEGY Transition from small high-cost miner with expensive supply chains to: • High-volume, low-cost miner • Low-cost mine to port transport solutions • Low-cost port facilities Next 2-5 years • Develop three mining hubs: • Ashburton – 30Mtpa, 2 year development • South West Creek – 30Mt
Slide 13: Lithium Strategy
LITHIUM STRATEGY Convert spodumene to high quality lithium hydroxide Next 2-5 years Mt Marion1 – spodumene concentrate • Take possession of MRL share of offtake – 240ktpa • Convert to hydroxide – 32ktpa MARBL JV2 • Wodgina spodumene concentrate o Bring back to full production in line with market dem
Slide 14: Energy Strategy
ENERGY STRATEGY Reduce our emissions intensity – decarbonise our business • Become fully self-sufficient in delivering gas to: - All our operations - Our JV partners - Power solutions for our clients – gas and solar • Long-term gas supply contracts to mining – down-stream plants • Use low-cost energ
Slide 15: Business and Major Projects Update
BUSINESS AND MAJOR PROJECTS UPDATE 14
Slide 16: Operating Environment
OPERATING ENVIRONMENT • Operating environment has changed extremely quickly - Benchmark iron ore price – significantly down - Discounts have widened • Operating costs under pressure • Tight labour market – costs increasing • Yilgarn guidance update: - Remove high cost Yilgarn tonnes from production
Slide 17: Ashburton Project Overview
ASHBURTON PROJECT OVERVIEW • 30Mtpa iron ore project – 2 year build • Full pit-to-port infrastructure solution • Commence with Bungaroo South • Private haul road to Port of Ashburton • Develop port infrastructure • Transport ore via transhippers to cape size carriers offshore • Aiming for first ore
Slide 18: Unlocking Ashburton
UNLOCKING ASHBURTON NextGen Crushing Automated Road Trains Transhippers 17
Slide 19: Unlocking Ashburton
UNLOCKING ASHBURTON Resort Style Accommodation 18
Slide 20: Ashburton Project Economics
ASHBURTON PROJECT ECONOMICS PROJECT OWNERS BOO1 MINE CO INFRA CO CONTRACTS Port Transhipping Infrastructure Iron Ore Tenements Crushing Private Haul Roads Non Process Infrastructure Haulage Port Infrastructure Central Camp and Airport Transhipping Onslow Infrastructure Mobile Equipment Transhipping
Slide 21: South West Creek Project Update
SOUTH WEST CREEK PROJECT UPDATE • Waiting on berth approval from government • Success will result in development of Marillana • 4 to 5 year time-frame - 2 year approval process - 2.5 to 3 year development • Follows Ashburton development – continuity for MRL’s construction team 20
Slide 22: Yilgarn Project Update
YILGARN PROJECT UPDATE • Existing hematite operation - 15 pits, spanning +200km - 5 to 6 year mine life • Magnetite opportunity - Drilling program underway - Early stages of defining resource • Leverage existing infrastructure • Construct new process infrastructure - Produce pilot plant to prove con
Slide 23: Gas Development Update
GAS DEVELOPMENT UPDATE LOCKYER DEEP DEVELOPMENT Year # Wells Production infrastructure 2022 3 Production test and drill appraisal wells 2023 4 FEED and FID 2024 4 Stage 1 production facility. Connect to WA gas network 2025 4 Stage 2 expansion to increase production RED GULLY DEVELOPMENT Year Product
Slide 24: Thank You
THANK MINERAL RESOURCES
Slide 25: Disclaimer
DISCLAIMER This presentation has been prepared by Mineral Resources Limited (“MRL” or “the Company”). It should not be considered as an offer or invitation to subscribe for or purchase any securities in the Company or as an inducement to make an offer or invitation with respect to those securities.
Slide 26: Investor Relations
INVESTOR RELATIONS James Bruce Head of Investor Relations T: +61 8 9329 3706 E: james.bruce@mrl.com.au OFFICE: 1 Sleat Road, Applecross, WA 6153 POSTAL: PO Locked Bag 3, Canning Bridge LPO, Applecross, WA 6153 P +61 8 9329 3600 F +61 8 9329 3601 www.mrl.com.au ASX:MIN
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