Morgan Stanley Infrastructure Partners Announces Investment in Australia’s Onslow Iron Road Trust
06 6월 2024 - 8:00PM
Business Wire
Morgan Stanley Investment Management (“MSIM”), through
investment funds managed by Morgan Stanley Infrastructure Partners
(“MSIP”), a private infrastructure investment platform within MSIM,
today announced it has agreed to acquire a 49% stake in Onslow Iron
Road Trust (“Road Trust”) in partnership with Mineral Resources
Limited (“Mineral Resources”), which will continue to own a 51%
stake.
Mineral Resources, a leading diversified natural resources
company listed on the Australian Stock Exchange, is the manager and
majority owner of the Onslow Iron ore project (“Onslow Iron”)
located in the northwest Pilbara region of Western Australia.
Onslow Iron has commenced ore production and is expected to ramp up
to nameplate capacity of 35 million tonnes per annum by June
2025.
As part of delivering the pit-to-port solution for Onslow Iron,
Mineral Resources built an approximately 150-kilometer private haul
road from the Onslow mine to Ashburton Port. Serving as the only
corridor for Onslow Iron’s deposits, Road Trust owns a critical
transportation infrastructure asset that will assist in unlocking
material iron ore deposits previously stranded in the West
Pilbara.
“We are pleased to partner with Mineral Resources as part of the
Onslow Iron project and value its long-term track record of project
execution,” said Tim Cooper, Managing Director for MSIP. “We are
proud to be co-stewards of an asset we believe will deliver an
attractive, inflation-protected cash yield, backed by significant
barriers to entry and attractive underlying economics.”
About Onslow Iron Road Trust Onslow Iron Road Trust
(“Road Trust”) is the owner of an approximately 150-kilometer
private haul road from the Onslow Iron ore project to Ashburton
Port in the northwest Pilbara region of Western Australia. Road
Trust is co-controlled and managed by Mineral Resources, the
majority owner of Onslow Iron. Road Trust is a critical,
transportation infrastructure asset serving as the only corridor
for Onslow Iron’s deposits. Road Trust will be supported by Mineral
Resources’ 30+ year track record of delivering leading mining
supply chain solutions for tier-one global mining companies.
About Morgan Stanley Infrastructure Partners
Morgan Stanley Infrastructure Partners ("MSIP") is a leading global
private infrastructure investment platform with approximately $17
billion in assets under management1. Founded in 2006, MSIP has
invested in a diverse portfolio of 40 investments across
transportation, digital infrastructure, energy transition and
utilities. MSIP targets assets that provide essential public goods
and services with the potential for value creation through active
asset management. For further information about Morgan Stanley
Infrastructure Partners, please visit
www.morganstanley.com/im/infrastructurepartners.
About Morgan Stanley Investment Management Morgan Stanley
Investment Management, together with its investment advisory
affiliates, has more than 1,300 investment professionals around the
world and $1.5 trillion in assets under management or supervision
as of March 31, 2024. Morgan Stanley Investment Management strives
to provide outstanding long-term investment performance, service,
and a comprehensive suite of investment management solutions to a
diverse client base, which includes governments, institutions,
corporations and individuals worldwide. For further information
about Morgan Stanley Investment Management, please visit
www.morganstanley.com/im.
About Morgan Stanley Morgan Stanley (NYSE: MS) is a
leading global financial services firm providing a wide range of
investment banking, securities, wealth management and investment
management services. With offices in 42 countries, the Firm’s
employees serve clients worldwide including corporations,
governments, institutions and individuals. For further information
about Morgan Stanley, please visit www.morganstanley.com.
- AUM reflects assets managed by MSIP platform since
inception.
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version on businesswire.com: https://www.businesswire.com/news/home/20240605063000/en/
Morgan Stanley Media Relations: Nick Footitt
Nick.Footitt@morganstanley.com
Morgan Stanley (NYSE:MS)
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