Mineral Resources Limited (ASX: MIN) has completed the sale of its iron ore operations and assets in the Yilgarn region (Yilgarn Hub) to a new owner, Yilgarn Iron Investments Pty Ltd (YII).
YII has acquired all shares in Yilgarn Iron Pty Ltd as well as other tenements and land interests across the Yilgarn Hub, associated approvals, licences, entitlements and fixed assets.
MinRes ceased exports from the Yilgarn Hub at the end of 2024 following a ramp-down of operations during which approximately 800 people were redeployed to other roles within MinRes.
While the commercial terms of the sale are confidential and immaterial, MinRes’ priority was to select the party most likely to sustain these nearly 80-year-old operations for the benefit of the region and community.
YII will be responsible for and indemnifies MinRes against all environmental, closure and rehabilitation liabilities in relation to Yilgarn Hub assets.
Where applicable, MinRes has retained all gold and lithium rights on tenements within the Yilgarn Hub.
“As we transfer our Yilgarn operations to a new owner, we take great pride in everything the MinRes team has achieved in the region over the past 14 years, and that we were able to save hundreds of jobs at Koolyanobbing that would have otherwise been lost with the departure of Cleveland Cliffs,” MinRes managing director Chris Ellison said.
“This transaction ensures these mines will continue to support jobs and the economy for years to come and deliver ongoing benefits to the region and Western Australia.”
