Mineral Resources outlines increase in Onslow mine reserves
Make us a preferred source
Make us a preferred source on Google
The news: Mining group Mineral Resources has outlined an increase in reserves at its main Onslow iron ore project in Western Australia.
The numbers: The company said it had mineral resources of 744 million tonnes at Onslow as of 31 March, an 89% increase since the previous update in September 2023. Ore reserves are also up 73% to 359 million tonnes.
The context: The miner said the resources 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 company has been ramping up output at the project.
The Onslow Iron project is a joint venture between Mineral Resources, Red Hill Iron Ore joint venture, China’s Baowu, AMCI and South Korea’s POSCO.
“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,” m,anaging director Chris Ellison said.
The source: ASX
