With a footprint in critical minerals and iron ore, Mineral Resources has deep pockets for further growth as merger activity heats up in the west.
"The past 12 months have been the most productive in MinRes' history," managing director Chris Ellison said on Thursday.
The balance sheet "remains well-placed to support further growth", the billionaire told shareholders in his presentation to the annual general meeting.
MinRes has latched on to the battery minerals boom and is one of 50 mid-tier miners that could generate a total of more than $170 billion in GDP by 2040, according to PwC's latest Aussie Mining analysis.
But a move into downstream processing is "likely uneconomic" without government assistance, Mr Ellison warned the AGM.
MinRes, and Gina Rinehart's Hancock Prospecting, have been making the most of a slide in market valuations as the lithium price slumps.
MinRes has a growing stake in lithium takeover target Azure Minerals and is a major stakeholder in Delta Lithium's flagship Mt Ida project, located 100km northwest of Menzies in WA.
Mr Ellison said the company was also focused on maximising value, given the low battery mineral prices.
"Significant growth in the medium term" is anticipated from wholly owned Bald Hill and in partnership with Ganfeng Lithium at Mt Marion and with Albemarle at Wodgina, he said.
Mr Ellison said the Goldfields, one of the world's most prospective lithium regions, would be an area of consolidation, by acquiring lithium rights, leveraging existing infrastructure and adding tonnes from nearby mines.
Shares in MinRes eased two cents to $62.93 in morning trade.
