MinRes pins Onslow Iron volume downgrade on truck contractors

Mineral Resources shares sink on Onslow Iron blow

Mineral Resources Ltd (ASX: MIN) shares are on the sinking on Wednesday. In morning trade, the mining and mining services company's shares are down 4% to $22.77. Why are Mineral Resources shares falling? Investors have been selling the company's shares today in response to the release of an announcement after the market close on Tuesday. Ahead of its investor and analyst tour of Onslow Iron, which includes a visit to Ken's Bore and the project's…

Onslow Iron powers ahead - Australian Mining

Mineral Resources (MinRes) is on track to meet its long-term targets despite a short-term revision in volume guidance due lower availability of road trains for haulage.

Onslow Iron Volume Guidance Revised Downward

Mineral Resources Limited (MinRes) has revised its Onslow Iron volume guidance to 7.8-8.0 million tonnes (Mt) from the previously projected 8.5-8.7Mt. This adjustment stems from lower-than-expected availability of contractor road trains for haulage and below-forecast daily haulage cycles. Actual road train availability was 65 compared to a target range of 85-100, while daily cycles averaged 2.7 against a target of 4.0. Despite these challenges, …

MinRes pins Onslow Iron volume downgrade on truck contractors

Mineral Resources has again cut its iron ore volume guidance from its Onslow Iron project as further issues tied to its trouble-plagued and under-repair haul road arise.