In welcome news for shareholders, the Mineral Resources Ltd (ASX: MIN) share price is outpacing the benchmark today.
Shares in the S&P/ASX 200 Index (ASX: XJO) lithium miner and diversified resources producer closed yesterday trading for $22.76. In late morning trade on Monday, shares are changing hands for $23.05 apiece, up 1.3%.
The ASX 200 is down 0.2% at this same time.
While it's not unheard of for the Mineral Resources share price to beat the ASX 200, that's certainly not been the norm this past year.
Pressured by slumping lithium prices along with inclement weather impacting its mining operations, Mineral Resources stock has tumbled almost 67% over the last 12 months. The ASX 200 is up a bit over 1% in this same time.
Here's why the miner looks to be enjoying a solid day today.
Image source: Getty Images
Mineral Resources share price rises on haul road reopening
Last Wednesday, 19 March, Mineral Resources reported that haulage on the Onslow Iron haul road had been temporarily paused while it engaged with WorkSafe WA relating to controls and risk-mitigation of its road train operations.
That followed on a haulage truck crash the previous day, where the rear two trailers of a road train tipped onto their side on the haul road. No injuries were reported. The company said that haulage was continuing via contractor vehicles using alternative routes as it worked to strengthen controls and traffic management on the haul road
Still, the Mineral Resources share price closed down 3.9% on the day. And with shares in the ASX 200 lithium miner also falling on Thursday and Friday, the stock had lost 9.5% of its value over the three days at market open this morning.
Hence, shareholders likely breathed a sigh of relief at today's modest rebound, which follows on news that haulage operations on the Onslow Iron haul road resumed on Friday evening.
According to management, "The resumption followed constructive discussions with WorkSafe WA regarding controls and risk mitigation. The previously announced works program to upgrade the haul road continues on schedule for completion in Q1 FY26."
Management also noted that the 164 metre long cargo ship MinRes Rosily commenced operations at the Port of Ashburton on 22 March. They said this will increase Onslow Iron's transhipping capacity to 28 million tonnes a year.
The Mineral Resources share price also could be getting some support with the miner reaffirming its full-year FY 2025 Onslow Iron volume guidance.
