Mineral Resources Limited (MinRes) saw its stock price surge by 15.12% in intraday trading on Thursday, following the announcement of a significant milestone in its transformative Onslow Iron project. The company revealed that it has successfully delivered its first ore ahead of schedule, marking a pivotal moment for both MinRes and the Australian iron ore industry.

The Onslow Iron project, which had previously faced challenges due to high capital costs and logistical hurdles, has now demonstrated its viability and potential. MinRes leveraged its in-house expertise and innovative approach to unlock the value of what were once considered stranded assets in the West Pilbara region. A key component of the project's success is the dedicated private haul road connecting the Ken's Bore mining operations to the Port of Ashburton, facilitating efficient ore transport.

Investors were particularly encouraged by the news that MinRes had entered into a binding agreement with Morgan Stanley Infrastructure Partners in June 2024 to sell a 49% stake in the haul road for up to $1.3 billion. This transaction, which has been endorsed by the Foreign Investment Review Board, not only underscores the project's world-class credentials but also highlights MinRes' ability to unlock significant capital. The early delivery of the first ore shipment further solidifies market confidence in the company's execution capabilities, driving the substantial stock price increase observed today.