Mineral Resources (MinRes) has officially ceased mining at its Yilgarn Hub iron ore operations in the Western Australian Pilbara, but will the collection of mines stay shuttered for long?
MinRes announced in June 2024 it wouldn’t be taking Yilgarn into 2025, saying at the time the operation would be wound down on December 31.
True to its word, MinRes has now put Yilgarn to rest, with 45 workers remaining on site to carry out care and maintenance activities.
More than 600 employees from across the operation, which includes the Koolyanobbing, Parker Range, Carina and Windarling mines, have been redeployed at other MinRes sites, including the company’s $3 billion Onslow Iron project.
Onslow Iron is one of the largest iron ore projects currently under development in Australia, set to unlock billions of tonnes of stranded deposits in the west Pilbara region.
The project is ramping up to 35 million tonnes per year, with an expected mine life of more than 30 years, making it the perfect place for Yilgarn Hub’s pool of talent.
When it comes to Yilgarn’s future, MinRes is keeping all options on the table, whether it be full rehabilitation or the eventual selling of the asset.
Mining magnate Gina Rinehart recently struck out in the WA Goldfields to buy a major interest in the Mt Bevan magnetite project in the central Yilgarn region.
Mt Bevan is a joint venture with Rinehart’s Hancock, Legacy Iron and Hawthorn Resources and shares a port with Yilgarn Hub.
Rinehart-owned HanRoy is conducting a pre-feasibility study for Mt Bevan on behalf of Atlas Iron who have been appointed as managers, with heritage and environmental studies currently progressing.
WA is the world’s largest single exporter of iron ore into the global market and is expected to continue its domination in the coming years.
With a major player like Rinehart setting up shop in the Yilgarn region, there is hope more investment may be attracted in the future, with Yilgarn Hub a potential tasty morsel for Australia’s growing iron ore hunger.
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