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Australia
Onslow (Ashburton) Project

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 Location:
125 km SE from Onslow, Western Australia, Australia

  Project Contacts:
20 Walters Drive
Osborne Park
Western Australia, Australia
6017
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Fax+61-8-9329-3601
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  • Overview
  • Owners
  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
  • Costs & Financials
  • Personnel
  • Filings & News

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Overview

StageConstruction
Mine TypeOpen Pit
Commodities
  • Iron Ore
Mining Method
  • Truck & Shovel / Loader
Production Start...
Mine Life30 years (as of Jan 1, 2022)
Onslow Iron Project (formerly known as the Ashburton project) will be one of the largest iron ore developments undertaken in Western Australia.

Stage 1 of the Onslow Iron Project will consist of the Red Hill Iron Ore Joint Venture (RHIOJV) tenements.

August 29, 2022, Early works are underway as part of the development phase, with all equipment expected on site by June 2023 and first ore on ship targeted as early as December 2023.


Owners

Source: p. 1,2
CompanyInterestOwnership
Mineral Resources Ltd. (operator) 40 % Indirect
Ownership Tree
The Onslow Iron Project is owned through an unincorporated joint venture between Mineral Resources (MinRes), who will manage the project, Baowu, AMCI and POSCO.

On August 29, 2022, the Red Hill Iron Joint Venture (RHIOJV) parties have made an unconditional Final Investment Decision to develop the RHIOJV iron ore assets as part of MinRes’ Ashburton Hub Development - Onslow Iron Project and have executed a Binding Project Development Term Sheet. The RHIOJV is currently held 40% by MinRes and 60% by API Management Pty Ltd (APIM) on behalf of the parties to the Australia Premium Iron Joint Venture (APIJV), Aquila Steel Pty Ltd and AMCI (IO) Pty Ltd.

The APIJV is held 50-50 by Aquila Steel Pty Ltd (50%) and AMCI (IO) Pty Ltd (50%). Aquila Steel is a wholly owned subsidiary of Aquila Resources Pty Ltd which is owned 85% by Baosteel and 15% by MRL, while AMCI (IO) is owned 51% by AMCI and 49% by POSCO.

Contractors

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Deposit Type

  • Channel Iron (CID)


Summary:

The Onslow Iron Project is located 150 km east of Onslow in the West Pilbara region of Western Australia. Onslow Iron will be one of the largest iron ore developments undertaken in Western Australia.

Stage 1 of the Onslow Iron Project will consist of the Red Hill Iron Ore Joint Venture (RHIOJV) tenements which host Mineral Resources of 820Mt and 537Mt in Ore Reserves.

RHIOJV is an integral part of West Pilbara Iron Ore Project.

The West Pilbara Iron Ore Project (WPIOP) mineral resource is predominately comprised of hematitic and goethitic Channel Iron Deposit (CID) mineralisation. Deposits occur as partly buried palaeochannels, originating from ancient river systems draining away from the Hamersley Ranges. These ancient river systems were filled with iron rich material which cemented together to form an iron-rich deposit resistant to erosion. Most of the WPIOP deposits are mesaform CID’s (Type I) shaped due to the weathering and erosion of the surrounding basement rocks therefore exposing the palaeochannel deposits over time. Two of the CID deposits, Buckland Hills and Red Hill Creek, occur in the upper parts of the palaeochannel systems they occupy and are valley constrained deposits (Type II). Distance from source, iron material type, ancient river setting and current conditions, including exposure to water, determine the grade of the CID.


Mining Methods

  • Truck & Shovel / Loader


Summary:

It has been assumed that the traditional open cut mining method of drill, blast, load and haul will be used.

MinRes will provide life-of-mine mining services to the project under crushing and mine to ship agreements. MinRes will deploy its innovative and proprietary suite of mining services assets including NextGen crushers, autonomous 320 tonne jumbo road trains and 20,000 tonne transhippers.


Crushing and Grinding


Processing

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Summary:

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Projected Production:

CommodityUnitsAvg. Annual
Iron Mt 30
All production numbers are expressed as ore.

Operational Metrics:

Metrics
Stripping / waste ratio  ......  Subscription required
Annual production capacity  ......  Subscription required
* According to 2022 study.
Subscription required - Subscription is required.

Reserves at January 30, 2020:
Mineral Resource Estimates - 52% Fe Block Cut-Off Grade.

CategoryTonnage CommodityGrade
Proven 208 Mt Iron 57.7 %
Probable 329 Mt Iron 57 %
Proven & Probable 537 Mt Iron 57.2 %
Measured 263.5 Mt Iron 57.17 %
Indicated 452.3 Mt Iron 56.3 %
Inferred 104.2 Mt Iron 55.19 %
Total Resource 820 Mt Iron 56.44 %

Operating Costs:

Units2022
Total operating costs ($/t milled) AUD 32.2 *
* According to 2022 study.

2022 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Total CapEx $M AUD  ......  Subscription required
Subscription required - Subscription is required.


Heavy Mobile Equipment:

Mine Management:

Job TitleNamePhoneProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Oct 20, 2022
....................... Subscription required ....................... Subscription required Subscription required Oct 20, 2022
....................... Subscription required ....................... Subscription required Subscription required Oct 20, 2022
....................... Subscription required ....................... Subscription required ....................... Subscription required Jun 30, 2022
....................... Subscription required ....................... Subscription required Subscription required Oct 20, 2022
Subscription required - Subscription is required.

Staff:

Total WorkforceYear
Subscription required 2022

Corporate Filings & Presentations:

DocumentYear
Corporate Presentation 2022
Corporate Presentation 2022
Other 2022
Press Release 2022
Press Release 2022
................................... Subscription required 2020
................................... Subscription required 2020
Year-end Mineral Reserves 2015
Subscription required - Subscription is required.

Subscription required - Subscription is required.

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