Admiralty Delivers 22,378 Tonnes of Iron Ore Concentrate in Q2 2025

• Mariposa iron ore pre-production yields 22,378 tonnes in Q2 2025
• 80,000-tonne sales contract signed with Compañia Minera del Pacifico
• Port access secured at Las Losas with expansion plans underway
• Transition to electric power scheduled for October 2025
• Water supply pipeline pending land access approval

Steady Production Ramp-Up at Mariposa

Admiralty Resources NL has reported encouraging progress at its flagship Mariposa Iron Ore Project in Chile for the quarter ended 30 June 2025. The project, currently in pre-production, delivered a total of 22,378 tonnes of refined iron ore concentrate with an average grade of 65% iron content. Mining activities resumed in May after maintenance in April, producing 72,830 tonnes of raw material over the quarter.

This output reflects Admiralty’s focus on enhancing both quantity and quality ahead of full-scale production. The company’s partnership with Hainan Xinlei Mining Management Co Ltd continues to underpin operational and financial support, allowing Admiralty to concentrate on project advancement without incurring direct development costs this quarter.

Securing Market Access and Sales

A significant milestone was achieved with the execution of a sales contract to supply 80,000 tonnes of iron ore concentrate to Compañia Minera del Pacifico (CMP) from May through December 2025. Over 20,000 tonnes have already been delivered to CMP’s Totoralillo Port, located 240 kilometres from the mine. This contract not only validates market demand but also provides Admiralty with a clear revenue pathway as production scales.

Complementing this, Admiralty has secured access to Las Losas Port, a key multi-purpose terminal just 49 kilometres from Mariposa. The port currently handles shipments of up to 50,000 tonnes, with plans to increase capacity to 80,000 tonnes by the end of next year. Admiralty is also preparing for future expansion to accommodate Capesize vessels, which could significantly boost export volumes in the medium term.

Infrastructure and Sustainability Initiatives

Infrastructure development remains a priority, with the installation of new mining equipment including a double-roller crusher and two 70-tonne trucks underway. Admiralty is also enhancing ore blending and beneficiation processes to maintain consistent product quality.

On the sustainability front, the project is transitioning from diesel to electric power, with an energy supply contract expected imminently and full electrification targeted by October 2025. This shift aligns with broader industry trends towards reducing carbon footprints in mining operations.

Water supply logistics are currently managed through local vendors due to pending land access approval for a pipeline from Agrosuper’s water plant. This bottleneck highlights the ongoing challenges of infrastructure development in remote mining regions.

Broader Project Portfolio and Outlook

Beyond Mariposa, Admiralty is progressing environmental approvals for its Soberana and La Chulula projects in Chile, with Soberana seeking a modest production permit. Meanwhile, the company maintains exploration interests in Australia, including a 50% stake in the Pyke Hill cobalt and nickel project, although no activity was reported there this quarter.

Overall, Admiralty’s Q2 report underscores a methodical approach to scaling production, securing market access, and building infrastructure with an eye on sustainability. The company’s ability to navigate regulatory approvals and logistical challenges will be critical as it moves towards full production.

Bottom Line?

Admiralty’s steady progress at Mariposa sets the stage for a pivotal production ramp-up, but infrastructure and regulatory hurdles remain key watchpoints.

Questions in the middle?

• Will Admiralty secure full environmental approval for the Las Losas Port transport by early 2026 as planned?
• How quickly can the transition to electric power be completed, and what cost savings might it deliver?
• What are the timelines and prospects for scaling production beyond pre-production volumes at Mariposa?