Onslow Iron

Flagship long-life, low-cost iron ore complex in the West Pilbara held through the Red Hill Iron Ore Joint Venture (MinRes 57%) with partners Baowu, AMCI and POSCO. The mine plan draws on satellite deposits - Ken's Bore plus the newly developed Cardo Bore East and Upper Cane - hauled to a centralised crushing, processing and four-lane truck load-out facility at Ken's Bore (inbuilt capacity above 60Mtpa), then trucked 147-150 km on a dedicated private haul road to the Port of Ashburton, where purpose-built 20,000 t transhippers (fleet of five, expanding to seven) load ocean-going carriers 40 km offshore. First ore May 2024; commercial production effective 30 June 2025; 32.4Mtpa annualised run rate in June 2025 and 35Mtpa in the four weeks to 26 August 2025. A Q3 FY25 updated MRR statement lifted resources 89% and reserves 73%. A 49% interest in the haul road was sold to Morgan Stanley Infrastructure Partners for up to $1.3 billion; road upgrades (asphalting all 150 km) completed September 2025 underpin planned autonomous haulage.