MinRes receives $1.3 billion from Morgan Stanley Infrastructure Partners for a 49% stake in Onslow Iron Road Trust following operational achievements at the project.

Target Information

MinRes, a leading mining service provider, has successfully loaded 8.75 million tonnes of iron ore onto its transhippers at the Port of Ashburton between August 1, 2025, and October 27, 2025. This achievement meets the conditional payment terms by reaching a run rate of 35 million tonnes per annum over the three-month period.

In September 2024, investment funds managed by Morgan Stanley Infrastructure Partners (MSIP) invested $1.1 billion for a 49% interest in the Onslow Iron Road Trust, which provides a life-of-mine, Consumer Price Index-adjusted tolling fee on each tonne of iron ore loaded at the port as part of the Onslow Iron project. Following this, an additional payment of $200 million was received in November 2025, bringing the total consideration received by MinRes to $1.3 billion.

Industry Overview in Australia

The Australian iron ore industry is one of the largest producers globally, known for its high-quality ore and significant export capacity. The sector significantly contributes to the national economy, wit