Mineral Resources Subject to Substantial Holder Notice as L1 Capital Lifts Stake to 6.57%

Shwetambri Chauhan

12 November 2026 05:16 PM AEDT

Mineral Resources Subject to Substantial Holder Notice as L1 Capital Lifts Stake to 6.57%

Image Source: Krish Capital Pty Ltd

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Mineral Resources Limited (ASX:MIN) has been the subject of a substantial holder notice filed by L1 Capital Pty Ltd and L1 Capital Strategic Equity Management Pty Ltd, disclosing a combined voting power of 6.57%, or 13,042,324 votes, based on issued capital of 198,614,518 shares, up from a previous holding of 5.53%, or 10,989,713 votes, based on issued capital of 198,537,253 shares.

Key Points

L1 Capital Pty Ltd and L1 Capital Strategic Equity Management Pty Ltd now hold a combined 6.57% voting power in Mineral Resources, equating to 13,042,324 votes.
The previous notice disclosed a combined voting power of 5.53%, or 10,989,713 votes.
The change in interests occurred between 26 October 2026 and 10 November 2026, with the notice dated 12 November 2026.
Transactions included multiple on-market purchases by L1 Capital Pty Ltd, one on-market sale by L1 Capital Strategic Equity Management Pty Ltd, and one in-specie transfer out by L1 Capital Strategic Equity Management Pty Ltd.

Series of On-Market Purchases Between 26 October and 11 November 2026

According to the filing, L1 Capital Pty Ltd conducted a series of on-market purchases of Mineral Resources ordinary shares across the period. Transactions included purchases on 26 October 2026 for consideration of $8,474,971.03 covering 198,489 shares, on 27 October 2026 for $3,156,918.01 covering 72,543 shares, on 28 October 2026 for $23,467,903.28 covering 517,535 shares, on 29 October 2026 for $5,514,998.34 covering 122,884 shares, and on 30 October 2026 for $8,361,005.64 covering 189,326 shares. Further purchases were made in November 2026, including 381,292 shares on 4 November 2026 for $16,610,601.39.

L1 Capital Strategic Equity Management Sale and In-Specie Transfer

The filing also discloses that L1 Capital Strategic Equity Management Pty Ltd conducted an on-market sale on 28 October 2026, with consideration of $529,445.09 relating to 11,674 shares. Additionally, on 30 October 2026, L1 Capital Strategic Equity Management Pty Ltd recorded an in-specie transfer out of 95,378 shares, with no consideration disclosed for that transaction. The notice was signed by Jane Stewart, Head of Legal & Compliance, on 12 November 2026. Both entities are located at Level 45, 101 Collins Street, Melbourne, Victoria.

Substantial Holder Voting Power and Issued Capital Basis

The present notice records total voting power of 6.57% for the combined substantial holder group, representing 13,042,324 person's votes, calculated on issued capital of 198,614,518 shares. The previous notice had recorded voting power of 5.53%, representing 10,989,713 person's votes, based on issued capital of 198,537,253 shares. The previous notice was given to Mineral Resources on 23 October 2026 and was dated 23 October 2026. The change in interests was recorded as occurring on 10 November 2026.

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