Mineral Resources (MinRes) has finalised the sale of its Yilgarn iron ore hub in Western Australia to Yilgarn Iron Investments.

Yilgarn Iron Investments also acquired all shares in Yilgarn Iron, and other tenements and land interests, approvals, licences, entitlements and fixed assets across the Yilgarn Hub.

MinRes has retained all gold and lithium rights on tenements within the Yilgarn Hub, wherever applicable.

“As we transfer our Yilgarn operations to a new owner, we take great pride in everything the MinRes team has achieved in the region over the past 14 years, and that we were able to save hundreds of jobs at Koolyanobbing that would have otherwise been lost with the departure of Cleveland Cliffs,” MinRes managing director Chris Ellison said.

“This transaction ensures these mines will continue to support jobs and the economy for years to come and deliver ongoing benefits to the region and Western Australia.”

The sale was originally announced by MinRes in January, citing the hub’s limited remaining mine life, significant capital cost and lead time to develop new resources.

The commercial terms of the transaction remain confidential, with MinRes saying its priority was “to select the party most likely to sustain these nearly 80-year-old operations for the benefit of the region and community”.

MinRes discontinued exports from the Yilgarn Hub at the end of 2024, with approximately 800 people being relocated to other MinRes operations such as Onslow Iron.

As one of the largest iron ore projects currently under development in Australia, Onslow Iron is set to unlock billions of tonnes of stranded deposits in the west Pilbara region.

MinRes also has the Wonmunna and Iron Valley iron ore mines in the Pilbara region of WA.

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