Shares in Mineral Resources experienced a rise of 1.5 per cent in early trading following the announcement of a $200 million contingent payment from Morgan Stanley Infrastructure Partners (MSIP). The payment, expected early next month, is part of the larger $1.3 billion haul road sale agreement made last year. Mineral Resources is a leading Australian mining services company with extensive operations across commodities such as iron ore and lithium. The company provides a range of services, including mining, processing, and infrastructure development.
In the previous year, MSIP agreed to acquire a 49 per cent stake in Mineral Resources’ private haul road. The road spans 150 kilometres, connecting the Onslow Iron development to the Port of Ashburton. Recent operational performance has triggered the final payment instalment.
Mineral Resources reported on Monday that its transhipper at the Port of Ashburton in Western Australia loaded 8.75 million tonnes of iron ore between August and October. This performance reflects a 35 million tonne-per-annum run rate at the Onslow Iron project over those three months. Achieving this milestone satisfied the conditions necessary to trigger the final $200 million contingent payment.
Managing director Chris Ellison acknowledged the efforts of the Mineral Resources team and its partners in achieving sustained nameplate capacity at Onslow Iron. He also thanked Morgan Stanley Infrastructure Partners for their continued support and noted the securing of the contingent payment as a strong financial outcome rewarding operational success.
