Mineral Resources' (ASX:MIN) Onslow iron ore project is expected to start generating cash in the near future, according to Citi analysts.

Mineral Resources has been developing the Onslow project in a joint venture partnership with members of the Red Hill joint venture in Western Australia.

The company’s stock recently saw a 0.9% increase, valued at A$60.

Citi noted that the company’s three-day investor tour reinforced the belief that the lithium miner is poised for growth in the upcoming years.

The brokerage mentioned that the weak pricing of lithium presents an opportunity for companies with a diversified lithium exposure and rated the stock a ‘buy’.

However, the stock has seen a decrease of 23% for the year up until the most recent close.

Mineral Resources is an Australian mineral resources company specializing in mining iron ore and lithium.