The Onslow Iron Haul Road is a sealed 150-kilometre dual-lane road linking Mineral Resources’ Ken’s Bore mine site to the Port of Ashburton in the West Pilbara region. The road, which became operational late last year, is used to transport iron ore and has been designed to ultimately support fully-autonomous road trains. In mid-2024, while the project was still under construction, Mineral Resources sold a 49 per cent stake in the project to Morgan Stanley Infrastructure Partners for $1.3 billion, maintaining majority ownership and the exclusive rights to use, operate and maintain the haul road.
The Judging Panel recognised the transaction as a significant step in the monetisation of iron ore infrastructure. The Panel noted that the transaction allowed Mineral Resources to retain operational control while achieving favourable financial outcomes. The transaction was one of the largest infrastructure sales of 2024 and contributed to demonstrating the scale of value available in mining infrastructure.