MinRes revises Onslow Iron guidance
ASX-listed Mineral Resources (MinRes) has revised its 2025 volume guidance for the Onslow Iron project, citing road haulage constraints, even as shipping rates continue to accelerate.
Onslow Iron is now expected to ship between 7.8-million and 8-million tonnes (13.8-million to 14.1-million tonnes on a 100% basis), down from the previously guided 8.5-million to 8.7-million tonnes.
The company attributed the revision to lower-than-expected availability of contractor road trains, with only 65 units in operation compared with a target range of 85 to 100, and below-forecast daily cycles.
Despite these logistical limitations, MinRes reported steady progress in haulage volumes and strong performance from its in-house jumbo road trains.
Onslow Iron shipped 1.7-million tonnes to date in May, with several days exceeding 80 000 t/d and a record 100 000 t loaded in a single day. The company expects to ship 1.9-million tonnes by the end of the month, compared with April’s 1.3-million tonnes.
MinRes forecasts shipments of 2.3-million to 2.6-million tonnes in June – equivalent to a daily average of 75 000 t to 87 000 t and an annualised rate of 28-million to 31-million tonnes.
The company has reaffirmed that the ramp-up remains on track to reach Onslow Iron’s nameplate capacity of 35-million tonnes a year in the first quarter of 2026.
Meanwhile, the fifth transshipper, MinRes Peak, is undergoing commissioning at the Port of Ashburton, with a new tug set to arrive shortly to further boost transshipping capacity.
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