Up 87% in a year, why are Mineral Resources shares leaping higher again today?

Mineral Resources Ltd (ASX: MIN) shares are charging higher today.

Shares in the S&P/ASX 200 Index (ASX: XJO) lithium miner and diversified resources producer closed yesterday trading for $53.10. In morning trade on Wednesday, shares are swapping hands for $56.25 apiece, up 5.9%.

This sees the Mineral Resources share price up an impressive 86.9% since this time last year.

For some context, the ASX 200 is up 1.2% today, bringing the benchmark index's one-year gains to 4.1%.

Here's why Mineral Resources is outperforming again.

Mineral Resources shares lift as records fall

The ASX 200 mining stock is grabbing investor attention on Wednesday following the release of its June quarter operating update.

Following a strong June quarter, the Mineral Resources share price is getting a boost after the company reported it achieved or exceeded FY 2026 volume and cost guidance across all its business segments.

The miner reported record annual volumes of 341 million tonnes for its Mining Services division, 29.5 million tonnes at its Iron Ore operations, and 559,000 tonnes (dmt SC6) from its Lithium business.

In the June quarter, Onslow Iron produced 8.8 million tonnes and shipped a record 9.6 million tonnes, (on a 100% basis). That lifted FY 2026 attributable shipments to 19.7 million tonnes (wmt), topping the miner's upgraded guidance range of 17.7 million to 19.4 million wmt.

Iron Ore operations also managed to keep costs below the FY 2026 guidance range of $54 to $59 per wmt, with full-year FOB costs coming in at $52 per wmt.

And a strong result at the Pilbara Hub also looks to be supporting Mineral Resources shares.

In the June quarter, the miner shipped 2.7 million tonnes as Lamb Creek operations continued to ramp up. This brought FY 2026 shipments to 9.9 million wmt, at the upper end of guidance of 9.0 million to 10.0 million wmt. Full year FY 2026 FOB costs of $79 per wmt were also at the upper end of guidance of $75 to $80 per wmt.

What else is happening with the ASX 200 miner?

The June quarter saw Mineral Resources shares progress with a series of major projects and developments.

That included recommencing construction at its Onslow Iron project and the restart of production at Bald Hill. First concentrate from Bald Hill was produced in June.

And a Final Investment Decision (FID) was made in May to construct a flotation plant and develop underground mining at its Mt Marion lithium operations.

On the balance sheet, the miner had net debt of $4.3 billion at 30 June, down from $4.5 billion at 31 March. Mineral Resources reported liquidity of $2.4 billion, up from $1.8 billion on 31 March, along with a fully undrawn $800 million revolving credit facility.

The post Up 87% in a year, why are Mineral Resources shares leaping higher again today? appeared first on The Motley Fool Australia.

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The Motley Fool's purpose is to help the world invest, better. Click here now for your free subscription to Take Stock, The Motley Fool's free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson. 2026