Mineral Resources ditches dividend for first time in a decade

Mineral Resources will not pay a final dividend for the first time in more than a decade as it looks to preserve cash amid a prolonged downturn in lithium prices and market jitters about the viability of high-cost iron ore operations.

Founder and managing director Chris Ellison assured the market the company’s $3 billion Onslow Iron operations, which started making shipments in May, would “generate strong returns through commodity cycles”.