Mineral Resources founder Chris Ellison was wrapping up a pep talk to investors and analysts ahead of a site visit to the miner’s $3 billion Onslow Iron project when news of a cut to its iron ore production hit the ASX.

It was a difficult moment for Ellison, whose efforts to restore confidence in the troubled project and the accident-prone haul road that links its mine to a port were undermined in real-time by an update that highlighted its problems.