Iron Valley

Operating iron ore mine within the Pilbara Hub, exporting through Utah Point at Port Hedland. MinRes took ownership of the Iron Valley project from BCI Minerals Limited at the end of FY24, with the initial $26 million acquisition payment made to BCI Minerals during FY25. Iron Valley delivered a strong contribution to the Pilbara Hub's FY25 performance and serves as the regional anchor for the planned Lamb Creek development located 50 km to its west, whose ore will be incorporated into the hub's supply chain in FY26. Production, cost and guidance figures are disclosed at the Pilbara Hub level rather than per mine, and no reserves and resources tables for the asset are published in this report.