Australian iron ore producer Mineral Resources (MinRes) will ramp up its Onslow iron ore project to nameplate capacity in July-September, increasing its total ore shipments in the 2025-26 financial year to 30 June.
MinRes produced 2.6mn wet metric tonnes (wmt) of ore at Onslow in August, in line with its 35mn wmt/yr capacity, it said in a financial report on 28 August. It started ramping up the mine in May 2024.
The company expects to ship 17.1mn–18.8mn wmt out of Onslow in 2025-26 on an equity basis, up from 8mn wmt in 2024-25. It faced major shipping disruptions in 2024-25 because Cyclone Sean hit Western Australia in late-January and damaged a road linking the project to Ashburton Port.
MinRes will spend A$370mn ($241mn) on Onslow haul road upgrades, as well as transshipment and haulage fleet expansions, in 2025-26. It plans to commission a transhipper in June 2026, and another in August 2026.
MinRes plans to ship 9mn-10mn t of ore from its Pilbara Hub iron ore complex in 2025-26, likely down from the 9.7mn t shipped in 2024-25. It has not released production guidance for the mining hub — where it produced 11mn wmt of ore in 2024-25.
The company expects to start building the 10mn t/yr Lamb Creek expansion at its Pilbara Hub complex in October-December 2025, with first production due in January-March 2026.
MinRes' realised iron ore grade stood at 57.7pc in 2024-25. Argus' iron ore fines 58pc Fe cfr Qingdao price was last assessed at $89.10/t on 27 August, lower than its iron ore fines 62pc Fe (ICX) cfr Qingdao price (see chart).
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