Mineral Resources (MinRes) is set to invest $150 million into the Mt Marion lithium project as it faces prolonged market weakness.
The funds will be matched by joint venture partner Ganfeng Lithium, which confirmed the investment in a filing to The Stock Exchange of Hong Kong, as seen by The Australian Financial Review.
Ganfeng’s $150 million contribution will be primarily used to support daily operation of the site. MinRes’ funding, on the other hand, is set to boost capital expenditure, including mine development and processing plant upgrades.
The funds would be drawn from MinRes’ working capital reserves and would not add to its debt burden.
Mt Marion sits within a key lithium hub in Western Australia’s Goldfields, an area that also includes MinRes’ inactive Bald Hill site.
In other news, MinRes has reaffirmed its commitment to recognising and embedding the value of Indigenous Australian cultures, knowledge, histories and rights throughout the company.
As part of National Reconciliation Week 2025, which ran until June 3, MinRes adopted the theme Bridging Now to Next, a message that underscores the importance of connecting the past, present and future to drive meaningful progress towards reconciliation.
MinRes is backing this commitment through a focus on education, respect and on-the-ground initiatives, including cultural awareness programs, employment pathways and support for Indigenous-owned businesses.
The company has also employed an Indigenous Employment Strategy, which has created to provide a culturally supportive and safe work environment while boosting Indigenous representation across its workforce.
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