Mineral Resources Limited (ASX: MIN; MRL or Company) is pleased to announce a series of agreements with BCI Minerals Limited (ASX: BCI; BCI) that will enhance MRL's Pilbara iron ore footprint.

The agreements include the purchase by MRL of the Buckland Project from BCI for cash consideration of up to $20 million and the optimisation of the existing Iron Valley Agreement whereby BCI will participate in the capital investment required to extend the mine life at Iron Valley through a partial rebate of MRL's payments to BCI.

This series of agreements builds on MRL's strong, long-term relationship with BCI through the Iron Valley Agreement.

For full details of the series of agreements please refer to BCI's ASX announcement BCI and MRL Agree Transactions dated 31 March 2019.

MRL's Managing Director, Chris Ellison, commented: 'This latest series of agreements reflects our strong partnership with BCI and provide further opportunity for MRL's Mining Services business to create value from stranded iron ore deposits in the Pilbara.'

This announcement dated 31 March 2020 has been authorised for released to the ASX by Mark Wilson, Company Secretary of Mineral Resources Limited.

Contact:

James Bruce

Tel: +61 8 9329 3706

Email: james.bruce@mrl.com.au

About Mineral Resources

Mineral Resources Limited (ASX: MIN) is a Perth-based leading mining services provider, with a particular focus on the iron ore and hard-rock lithium sectors in Western Australia. Using technical know-how and an innovative approach to deliver exceptional outcomes, Mineral Resources has become one of the ASX's bestperforming contractors since listing in 2006.

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