Mineral Resources (ASX:MIN) said the Onslow Iron project in Western Australia is expected to reach its 35 million tonnes per annum capacity in the first quarter of fiscal 2026, according to a Friday filing with the Australian bourse.

Since commissioning, the mine, processing, and port infrastructure have been operating at or above capacity rates, the filing said. Haulage performance is expected to improve during the haul road upgrade, increased operational road trains, and transhipper commissioning.

Further works on the private haul road are being undertaken over the coming months, per the filing.

Shares rose more than 1% in midday trade Monday, and earlier reached their lowest since June 2020.