Minereral Resources Limited has released an extensive update on its Onslow Iron Project in Western Australia, demonstrating a significant boost in both Mineral Resources and Ore Reserves. The latest figures, compiled as of 31 March 2025, show that the project’s Mineral Resources have grown to 744 million tonnes at an approximate 56% iron grade—a jump of nearly 89% compared to previous estimates. Concurrently, Ore Reserves have increased by 73% to 359 million tonnes, with an average iron grade of 57.5%. These upgrades owe much to closer-spaced drilling programs, thorough reclassification, and enhanced geological modelling that have improved confidence in the project’s long-term viability. The technical details presented underscore the project’s robust foundation. The updated reserve estimates incorporate key deposits such as Ken’s Bore, Upper Cane, and Cardo Bore East, each playing a pivotal role in scheduled production over the coming decade. The report outlines the use of conventional open pit mining techniques, supported by modern equipment – including heavy excavators and dump trucks – and validated using industry-standard estimation methods and detailed block modelling. Cost assumptions, pricing inputs (based on a US$85 per tonne iron index price at 62% Fe), and an exchange rate of 0.70 AUD:USD further enhance the credibility of these figures. Market implications are substantial. The substantial increases in both resources and reserves translate into a long-life, low-cost asset that is expected to drive growth across Mineral Resources Limited’s Iron Ore and Mining Services divisions. Investors can appreciate that the technical and economic indicators suggest the Onslow Iron Project is well positioned to become one of Australia’s premier iron operations, underpinning future production and revenue growth. Bullish sentiment arises from the impressive percentage increases in both Mineral Resources and Ore Reserves, robust operational planning, and the project’s potential to support long-term expansion. The technical improvements and modern mining methods add further confidence in the project’s ability to deliver sustained profitability while meeting market demand. On the other hand, cautious investors might note the inherent challenges in the mining sector, including regulatory approvals and environmental considerations, which could potentially delay production ramp-up and impact short-term execution. Overall, the update from Mineral Resources Limited reinforces a strong and promising outlook for the Onslow Iron Project, providing a compelling case for its long-term investment potential amid a complex yet rewarding mining environment.