Mineral Resources Limited (MinRes) has revised its Onslow Iron volume guidance to 7.8-8.0 million tonnes (Mt) from the previously projected 8.5-8.7Mt. This adjustment stems from lower-than-expected availability of contractor road trains for haulage and below-forecast daily haulage cycles. Actual road train availability was 65 compared to a target range of 85-100, while daily cycles averaged 2.7 against a target of 4.0. Despite these challenges, MinRes highlights the steady ramp-up of haulage volumes and the satisfactory performance of its jumbo road trains.
In May 2025, Onslow Iron has already shipped 1.7Mt, with an average of 74kt loaded onto ocean-going vessels daily over the last seven days, including several days exceeding 80kt and one day reaching 100kt. The company anticipates shipping 1.9Mt in May, up from 1.3Mt in April, representing an annualized run rate of 23Mtpa. This month-on-month increase signifies an acceleration in Onslow Iron’s ramp-up, with the project remaining on track to achieve its nameplate capacity of 35Mtpa in Q1 FY26.
MinRes forecasts shipments of approximately 2.3-2.6Mt in June, equivalent to 75-87kt/day and an annualized run rate of 28-31Mtpa. The commissioning of the fifth transhipper, MinRes Peak, at the Port of Ashburton, along with the imminent arrival of its tug, is expected to further enhance transhipping capacity. The company’s investor and analyst tour on May 27-28, 2025, includes a site visit to Ken’s Bore and the project’s Port of Ashburton operations.
