0258 GMT - RBC Capital Markets had been expecting Mineral Resources to approve the flotation plant at Mt. Marion, which is already in its base-case assumptions. However, an underground development project also approved for Mt. Marion had not previously been included, it says. "As such, the key incremental takeaway from today's announcement is less the flotation approval itself, and more the formal progression toward combined open-pit and underground operations at Mt. Marion," says the broker. It reckons the project is more about retaining the quality of the asset rather than aggressively growing volumes. The broker notes that underground mining introduces extra execution and long-term cost risks. RBC has an outperform rating and A$70.00 target on Mineral Resources. Shares are down 0.2% at A$71.42. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

(END) Dow Jones Newswires

May 25, 2026 22:58 ET (02:58 GMT)

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