Mineral Resources (ASX:MIN) Rallies as Iron Ore Haulage Resumes Despite Safety Setbacks

Highlights

• Mineral Resources resumes operations on Onslow Iron network.
• Shares rebound nearly 6% following announcement.
• Haul road repairs set for completion by FY26 Q1.

Shares in Mineral Resources (ASX:MIN) surged on Monday after the company confirmed the resumption of iron ore haulage on its critical Onslow Iron network. The move comes shortly after a sixth truck-related incident on the same road prompted temporary suspension and safety reviews.

The stock climbed 5.9% to $24.10 in afternoon trading, signaling a strong investor reaction to the update. This rebound comes during a turbulent year for the diversified mining company, whose share price has declined over 65% amid rising debt levels, operational challenges, and reputational concerns.

The Onslow Iron project, valued at around $3 billion, is a key pillar of Mineral Resources’ strategy to strengthen its presence in iron ore. The project’s haulage network had been temporarily halted following multiple vehicle crashes, triggering an investigation by workplace safety regulators. After engaging in discussions with authorities and implementing precautionary measures, the company has now resumed its trucking operations.

While haulage has restarted, Mineral Resources has confirmed that repair and upgrade works on the haul road remain in progress. These works are expected to continue until the first quarter of the 2026 financial year. The company is aiming to enhance the road infrastructure to improve safety and efficiency over the long term.

In addition to operational setbacks, the company has been under scrutiny due to allegations surrounding offshore tax practices involving its managing director. These controversies, along with concerns about the financial strain of its large-scale projects, have contributed to recent downward pressure on the stock.

Despite the headwinds, the resumption of activity at Onslow is seen as a positive operational milestone. It marks a step forward in stabilizing the project and potentially restoring confidence in Mineral Resources’ broader strategy.

The company remains focused on diversifying its portfolio across mining services, lithium, and iron ore, while working to address ongoing financial and reputational issues.

As developments unfold around the Onslow Iron project and its infrastructure upgrades, market watchers will be paying close attention to how the company navigates both its operational execution and broader investor sentiment in the months ahead.