Mineral Resources Limited (ASX: MIN) has provide updated Mineral Resources and Ore Reserves statements (100% basis) for the Onslow Iron project as of 31 March 2025.
Onslow Iron, located in the West Pilbara region of Western Australia, is being developed by MinRes in partnership with the Red Hill Iron Ore Joint Venture.
Highlights
- Mineral Resources of 744 million tonnes (Mt) at 56.3% Fe, representing an 89% increase from the 394Mt announced in September 2023.
- The updated Mineral Resources consists of 508Mt at 56.8% Fe as Measured/Indicated and 236Mt at 55.2% Fe as Inferred.
- Ore Reserves of 359Mt at 57.5% Fe, representing a 73% increase from the 207Mt announced in September 2023.
- Mineral Resources increase related to closer-spaced drilling supported by comprehensive remodelling and reclassification of additional deposits.
- The grades of the Mineral Resources for both Fe and other deleterious elements remain consistent with those reported in September 2023.
- Update confirms Onslow Iron as a long-life, low-cost project that will underpin the next phase of growth for MinRes’ Iron Ore and Mining Services divisions.
“The significant growth in Onslow Iron’s Mineral Resources and Ore Reserves highlights the outstanding quality of this long-life, low-cost project,” MinRes managing director Chris Ellison said.
“These upgraded figures reaffirm the confidence we have always held in Onslow Iron’s potential to operate for decades to come.
“Our focus remains on building on this strong foundation, unlocking further potential in the West Pilbara and delivering ongoing value to all stakeholders.
“With the production ramp-up accelerating in recent weeks, we are well on track to establish Onslow Iron as one of Australia’s premier iron ore operations.
“I’m proud of the team’s dedication as we progress development and create lasting benefits for our partners, shareholders and the wider community.”
