Australian miner Mineral Resources (MinRes) has reported attributable iron ore shipments of 7.9 million wet metric tons (wmt) for the July-September quarter of FY27, down six percent quarter on quarter but up four percent year on year. The company maintained its full-year shipment and cost guidance.
Onslow records higher production and monthly exports
Onslow Iron's production increased by 17 percent quarter on quarter to a record 10.3 million wmt on a 100 percent basis. Shipments totaled 9.2 million wmt, including 5.0 million wmt attributable to MinRes, representing an annualized shipping rate of approximately 36.9 million wmt.
September exports reached a monthly record of 3.49 million wmt following maintenance on the port's in-load circuit. The commissioning of a seventh transhipper in August allows six units to remain operational while one undergoes scheduled maintenance.
Lamb Creek boosts Pilbara Hub output
Pilbara Hub production rose by 55 percent quarter on quarter to 3.2 million wmt, while shipments reached 2.9 million wmt. Lamb Creek transitioned to full operations during the quarter, less than a year after construction began in December 2025. Lump ore accounted for 43 percent of shipments.
Prices decline, while costs remain within annual targets
MinRes' average realized iron ore price decreased by five percent quarter on quarter to US$83/dmt, equivalent to 85 percent of the Platts 61% CFR Index.
Onslow's quarterly FOB cost stood at A$53/wmt, below its FY27 guidance range of A$54-58/wmt. Pilbara Hub's cost was A$75/wmt, within its A$74-79/wmt guidance range.
Full-year attributable shipment targets remain at 20.0-21.7 million wmt for Onslow and 10.0-11.0 million wmt for Pilbara Hub. Despite higher diesel prices in September, MinRes expects annual FOB costs to remain within guidance.
