Australian miner Mineral Resources (MinRes) has sold its shuttered Yilgarn Hub iron ore complex to private firm Yilgarn Iron Investments (YII), transferring ownership of the 8mn wmt/yr facility along with all associated assets, licences, and environmental obligations. The financial terms of the deal remain confidential, with MinRes deeming the sale price immaterial.
The transaction follows MinRes’ decision to close Yilgarn Hub at the end of 2024, citing financial unviability. Approximately 800 workers were redeployed to other operations. The company retained gold and lithium rights at the site, while selecting YII based on its capacity to potentially restart operations.
During H2 2023, Yilgarn Hub operated at A$139/wmt ($91/wmt), near parity with the Argus 62% Fe fines benchmark of $93.30/dmt as of 27 June 2025, highlighting persistent margin pressure.
MinRes has since shifted its focus to ramping up output at its Onslow iron ore project, which has a 35mn wmt/yr capacity. However, progress has been constrained by weather disruptions and road safety concerns. As a result, the company revised its 2024–25 production guidance down to 7.8mn–8mn wmt from the previously projected 8.5mn–8.7mn wmt.
