Mineral Resources: If you own the rock you’re God

About the author:

Author name:

By Adrian Prendergast

Job title:

Senior Analyst

Date posted:

28 July 2023, 7:30 AM

Sectors Covered:

Mining, Energy

• Consensus on Mineral Resources (ASX:MIN) grows increasingly divided, with analysts split in their view on MIN's overarching strategy in lithium. We remain amongst the optimists.
• Relationship with both downstream partners remains strong.
• Firmly wants to stay upstream (“if you own the rock you’re God” according to MD Chris Ellison), cutting its downstream investment plans and focusing on toll treating for next 3-4 years.
• We maintain an Add rating on MIN, with an (login to view) Target Price.

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