Mineral Resources Limited (ASX: MIN) has reached a significant milestone with its Onslow Iron project, delivering first ore on ship ahead of schedule for delivery to China Baowu Steel Group, the world’s largest steelmaker.
Two MinRes transhippers are currently loading approximately 113,000 wet metric tonnes (wmt) of iron ore aboard a bulk carrier anchored 40 kilometres off the Port of Ashburton. This achievement comes just 11 months after ground was broken at the Ken’s Bore mine site in June 2023 and less than two years after the Red Hill Iron Ore Joint Venture (RHIOJV) made its final investment decision in August 2022.
The Ken’s Bore deposit, located on Robe River Kuruma Country, 150 kilometres east of Onslow in the West Pilbara region of Western Australia, is owned by the joint venture comprised of MinRes and partners Baowu, AMCI, and POSCO.
MinRes designed, built, and is managing the innovative and fully integrated mine-to-ship mining and transport infrastructure, which unlocks stranded iron ore deposits in the West Pilbara that would otherwise remain undeveloped.
MinRes Managing Director Chris Ellison said: “This historic moment for MinRes cements our position as Australia’s leading commodity infrastructure business.”
Ellison stated that the company has unlocked a whole new iron ore region for Australia.
“This project was stranded for more than a decade. In 2021, MinRes breathed new life into it and in less than three years we have planned, designed and have now delivered first ore on ship ahead of time and on budget.
“It’s an extraordinary display of the unique capability of MinRes’ infrastructure and mining services, as well as the ingenuity of our unmatched in-house engineering and construction workforce.
“There is no other company that could have delivered an operation of this size in such little time. The achievement is a testament to the professionalism and can-do attitude of the more than 3,000 people who worked on Onslow Iron.
“I want to thank everyone who brought our vision to life, including joint venture partners Baowu, AMCI and POSCO, our Traditional Owner partners, the Thalanyji and Robe River Kuruma peoples, and the wider Onslow community.”
The project is expected to ramp up to its nameplate capacity of 35 million tonnes annually by June 2025. Practical completion of project infrastructure, including the dedicated haul road, is scheduled for the second half of 2024. Up to 1,600 operational roles are forecast at the peak of the ramp-up phase.
Onslow Iron is MinRes’ flagship project in the company’s transition to low-cost, long-life iron ore operations.
