According to the activity report released by Australia-based miner Mineral Resources Limited (MinRes), the company’s total iron ore production from its Onslow Iron and Pilbara Hub operations amounted to 10.3 million wmt (wet metric tons) in the third quarter of the 2025-26 financial year ended March 31, while its shipment volume was recorded at 9.3 million wmt.
In the given quarter, production at the company’s Onslow Iron project rose year on year from 3.43 million wmt to 7.84 million wmt. However, on a quarter-on-quarter basis, production decreased by 11%, while shipment volume fell by 17 percent to 7.23 million wmt. MinRes stated that shipments were negatively affected by Tropical Cyclones Mitchell and Narelle, while the private haul road and other key infrastructure sustained no damage and operations returned to nameplate capacity shortly after.
The company raised its shipment guidance for Onslow Iron for the 2025-26 financial year from the previous range of 17.1-18.8 million wmt to 17.7-19.4 million wmt. The project’s FOB cost was stated to be tracking near the lower end of the guidance range of 54-59$/wmt. In the third quarter, the average iron ore price at Onslow Iron stood at 95$/dmt (dry metric ton).
On the Pilbara Hub side, production in the third quarter decreased by 10% quarter on quarter to 2.42 million wmt, while shipments fell by 13% to 2.07 million wmt. MinRes announced that first ore on ship was achieved at the Lamb Creek project in March. The company stated that production exceeding shipment volume was due to the strategic build-up of inventory for the transition to Lamb Creek.
At Pilbara Hub, the average iron ore price was 89$/dmt. The company stated that prices were supported by the lump ore weighting rising to 42%, and that this rate is expected to continue in the fourth quarter of the financial year as Lamb Creek is commissioned. While the shipment guidance for Pilbara Hub for the 2025-26 financial year was maintained at 9.0-10.0 million wmt, FOB cost is expected to be recorded at 75-80$/wmt.