Onslow Iron Ore Mine's shipment guidance target revised downward!

Recently, Mineral Resources Limited (MinRes), a mining resources company listed on the Australian Securities Exchange, revised its shipment guidance target for the Onslow Iron Ore Project in 2025, citing road transport constraints.

The Onslow Iron Ore Project is now expected to have shipments ranging from 7.8 million to 8 million mt (13.8 million to 14.1 million mt on a 100% basis), down from the previous guidance of 8.5 million to 8.7 million mt. MinRes attributed this revision to the lower-than-expected availability of contractor road trains, with only 65 units currently in operation compared to the target range of 85 to 100 units, and daily round trips falling short of expectations. Despite these logistical constraints, MinRes reported steady growth in its freight volume, with strong performance from its in-house mega road trains. So far, the Onslow Iron Ore Project has shipped 1.7 million mt in May, with several days exceeding 80,000 mt/day and a record single-day loading volume of 100,000 mt. The company expects to ship 1.9 million mt by month-end, compared to 1.3 million mt in April.

MinRes forecasts iron ore shipments of 2.3 million to 2.6 million mt in June, equivalent to a daily average of 75,000 to 87,000 mt, or an annualized rate of 28 million to 31 million mt. The company reiterated that this growth remains on track, with the Onslow Iron Ore Project expected to reach an annual production capacity of 35 million mt by Q1 2026.