Mineral Resources Limited (MinRes), a leading Australian-based mining services and processing company, has announced an update to its mineral resources and ore reserves for the Onslow iron ore project located in the West Pilbara region. Accordingly, the project’s estimated mineral resources have increased by 89 percent to 744 million mt for 56.3 percent Fe iron ore, while its ore reserves have risen by 73 percent to 359 million mt for 57.5 percent Fe.
This significant resource growth has been attributed to closer-spaced drilling, comprehensive geological remodeling and the reclassification of additional deposits. The acceleration of the project’s production ramp-up puts MinRes on track to establish Onslow Iron as one of Australia’s premier iron ore operations, SteelOrbis understands.