Mineral Resources
MALRY
Materials
3
exclusion reasons
2 themes
This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.
Mineral Resources is an Australian mining services company with a carbon footprint that is significantly misaligned with global climate targets and its own sector’s transition pathways. The company’s core operations—mining iron ore and lithium—are energy and emissions intensive. While mining for energy-transition minerals is not a dominant source of global greenhouse gas emissions at an aggregate level, Mineral Resources’ specific performance is a material outlier. The Climate Transition Pathway initiative, which benchmarks companies against the goals of the Paris Agreement, assesses Mineral Resources as failing to meet its criteria, indicating the company’s current trajectory is incompatible with limiting global warming to 1.5°C.
The company’s emissions profile is driven by its reliance on diesel-powered mining fleets and gas-fired power generation. Its reported Scope 1 and 2 emissions intensity remains high relative to mining peers, with no published, science-aligned plan to decarbonize these operational pillars. Furthermore, its significant involvement in midstream processing and shipping adds substantial Scope 3 emissions that are not accounted for in a Paris-aligned strategy. Leadership has not established emissions governance as a core strategic priority, with climate disclosures lagging behind the transparency and detail expected of a major extractive firm.
This exclusion is based on a peer-relative assessment: within the mining and materials sector, companies are expected to manage the inherent carbon intensity of their operations through credible transition plans, adoption of renewable energy, and fleet electrification. Mineral Resources demonstrates a systematic failure to reduce its emissions intensity at the pace required, placing it among the laggards in its industry.
Mineral Resources (MinRes) is a diversified mining company whose core business is the extraction of non-fuel minerals, primarily lithium and iron ore, across Western Australia. The company’s operations are centered on the mining and processing of these resources for sale to global markets. This activity places the company squarely within the extractive industries category.
The extractive sector is globally associated with significant environmental and social risks, including habitat destruction, water contamination, and community displacement. While the provided evidence references broad, sector-wide patterns of corruption, environmental harm, and human rights violations linked to mineral extraction, specific, documented incidents directly attributable to Mineral Resources' own operations are not detailed in the gathered materials. The exclusion is based on the company’s primary business activity—the commercial extraction of non-renewable mineral resources—which carries inherent and systemic risks that conflict with ethical investment principles focused on sustainability and community welfare.
Mineral Resources is an Australian mining and mining services company whose core operations involve the extraction and processing of iron ore and lithium. The company’s Mount Marion lithium operation in Western Australia is a significant site, and its mining activities inherently carry risks of environmental damage through land clearing, water use, and waste generation.
Available evidence from industry reports and academic studies consistently links critical minerals mining—including for lithium and iron ore—to severe environmental impacts. These include habitat destruction through deforestation, water contamination from heavy metals and toxic discharge, and significant soil degradation. While specific, recent enforcement actions or spill incidents directly tied to Mineral Resources were not identified in the gathered evidence, the company operates within a sector documented for causing ecological harm through the physical alteration and pollution of landscapes.
Research Sources
18 organizations
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Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.
This information is provided for educational and transparency purposes only and should not be relied upon as investment advice. Data is drawn from independent watchdogs, NGOs, government registries, and Ethical Capital's ongoing research — see Research Sources for the full list.
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