Mineral Resources acquires RDG assets, including Lucky Bay garnet mine

Mineral Resources Limited (MinRes) has executed a binding Asset and Share Sale Agreement to acquire assets from Resource Development Group Limited (RDG). This acquisition includes the Lucky Bay garnet mine and follows MinRes’ proposed Deed of Company Arrangement (DOCA) proposal, which received creditor approval on 1 September 2025.

MinRes confirmed all decisions related to the RDG acquisition were made by the MinRes board, with managing director Chris Ellison and MinRes nominees on the RDG board recusing themselves to avoid conflicts of interest. MinRes chair Malcolm Bundey emphasized ensuring shareholder value and thanked RDG employees for their continued productive operation.

The announcement, dated 23 September 2025, indicates that MinRes will assess options to maximize value from the acquired assets for its shareholders. MinRes is a diversified resources company with operations in lithium, iron ore, energy, and mining services across Western Australia.