MinRes will terminate operations at the Yilgarn iron ore mine in Western Australia

Gold Ten Futures, June 21, according to foreign media reports, Mineral Resources of Western Australia (Mineral Resources) will terminate its iron ore production in Western Australia's Yilgarn mine by December 31, 2024. The company said it was mainly affected by financial aspects and the development life limit of mines in the region, in addition to taking into account the subsequent cost of developing new iron ore. The Irgan mine is expected to reduce production in phases over the next six months. It is expected to produce an additional 4 million tons of iron ore by the end of this year, and enter the maintenance phase in early 2025. MinRes Western Australia's Yilgarn has five independent mines, including Koolyanobbing, Mt Jackson, WindarDecling, Deception and Parker Range, which will produce a total of 8.006 million tons of iron ore in 2023. After the shutdown of the Irgan mine, MinRes will shift its focus to the development of its other iron ore mine in Western Australia, Onslow Iron, which is expected to have a capacity of 35 million tons per year, which greatly guarantees MinRes iron ore production.