Mineral Resources Limited (MIN.AX) announced that it will receive an A$200 million contingent payment from Morgan Stanley Infrastructure Partners (MSIP) in early November 2025. This payment is part of the private haul road transaction linked to the Onslow Iron project.
Between 1 August 2025 and 27 October 2025, MinRes successfully loaded 8.75 million tonnes (Mt) of iron ore onto transhippers at the Port of Ashburton. This volume met the condition for the contingent payment by achieving a 35Mt per annum run rate over a three-month period.
Previously, in September 2024, investment funds managed by MSIP paid an upfront consideration of A$1.1 billion for a 49% interest in the Onslow Iron Road Trust. This trust generates a life-of-mine CPI-adjusted tolling fee per tonne of iron ore loaded at the port.
With the upcoming A$200 million payment, the total consideration received by Mineral Resources from the transaction will reach A$1.3 billion.
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