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MinRes slashes worker conditions as it pockets $1.1b from asset sale

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Mineral Resources has unveiled cost-cutting measures that will impact hundreds of blue-collar workers across its biggest lithium mines as it prepares to pocket $1.1 billion from the sale of a stake in its iron ore haul road by early next month.

The company’s razor gang estimates it has found about $180 million in capital expenditure savings and $120 million in operational cost savings across 2024-25, including through roster changes and associated job cuts in lithium.

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Brad Thompson writes across business and politics from Western Australia for The Australian Financial Review. Brad is based in our Perth bureau. Connect with Brad on Twitter. Email Brad at brad.thompson@afr.com

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    Original URL: https://www.afr.com/companies/mining/minres-slashes-worker-conditions-as-it-pockets-1-1b-from-asset-sale-20240910-p5k9iz