Mineral Resources has struggled due to a period of low lithium prices. Credit: Carla Gottgens/Bloomberg via Getty Images.

Employees at Mineral Resources will no longer be allowed to go outside of the office to buy a coffee as it is costing the company too much, according to managing director Chris Ellison.

At a financial results presentation meeting on Wednesday, Ellison said: “I don’t want them walking down the road for a cup of coffee. We kind of figured out a few years ago how much that costs.”

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Ellison cited numerous benefits on offer for staff in the office, implying there was no need for them to vacate the site throughout the working day.

“We have a lot of different benefits that we have brought on. Why have I done that? Because when I get them first thing in the morning, I want to hold them captive all day long. I don’t want them leaving the building,” he added.

Mineral Resources also has a strict “no work from home policy”. A day care centre is being built at Mineral Resource’s head office in Perth, which will be big enough to provide care for 105 children. Ellison claimed this allows staff to come in and enjoy work without the threat of distraction.

See Also:

Ellison’s comments were made at the same time the company revealed disappointing financial results. On 29 August, it reported a 40% decline in earnings and a 79% decrease in underlying net profit after tax of A$158m ($107.4m) for the year ending June 2024, citing a period of enduring low lithium prices.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

While some other miners have shut mines due to the low lithium prices, Mineral Resources is responding by reducing expenses and withholding dividend payments to shareholders for the first time.