LOWER EMISSIONS
Magnetite ores can be reduced with less heat, making them ideal feedstock for low carbon steel production.
LOWER IMPURITIES
Magnetite concentrates contain lower levels of impurities (silicon, phosphorous, sulphur, aluminium) compared to haematite DSO.
PREMIUM PRICES
Iron ore concentrates derived from magnetite are a premium product and attract higher prices from steelmakers.
HIGH GRADE LOW IMPURITIES
Premium product
The Project aims to produce a premium DR-grade iron ore concentrate at 68.5% iron with low deleterious elements (silica, alumina and phosphorus). As DSO grades decline and steel mills face increasing pressure to decarbonise, Razorback’s premium product is expected to be in high demand as critical new supply for decarbonised steelmaking.
COMPANY
Magnetite Mines
The Company has a 100% owned Mineral Resource of 6 billion tonnes of iron ore and is developing the Razorback Iron Ore Project, located 240km from Adelaide, to meet accelerating market demand for premium iron ore products created by iron and steel sector decarbonisation, with the potential to produce high-value Direct Reduction (DR) grade concentrates.
Razorback is set to become a very long-life iron ore project with expansion optionality in a tier 1 jurisdiction that will produce a superior iron ore product sought by steelmakers globally.
OPENING UP THE BRAEMAR
Projects
Our portfolio in South Australia includes our flagship 4.5 billion tonne Razorback Iron Ore Project located just 240 kilometres northeast of Adelaide in arid, low-intensity pastoral country. The Project benefits from close proximity to existing infrastructure including open-user rail (~45km), the renewables-weighted South Australian grid forecast to be 100% renewable by 2027 (~120km) and a number of Spencer Gulf ports (~200km). The majority of the Project’s 110km strike zone is largely underexplored
The 1.2 billion tonne Muster Dam Iron Ore Project, offers exciting exploration and development potential.
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21 June 2024
Press
Media Release: MGT Welcomes Aligned SA Gov Green Iron and Steel Strategy
Magnetite Mines welcomes yesterday’s release by the South Australian Government of the State’s Green Iron and Steel Strategy centred on its vision to be a partner of choice for decarbonised steelmaking
23 May 2024
Media Release: South Australia's Green Iron Advantage
Magnetite Mines Limited (ASX:MGT) welcomes the findings of the Green Iron Supply Chain Study announced by the South Australian Government this week that reinforces the State’s comparative advantage for the production of green iron.
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6
Billion
Tonnes of Mineral Resource
2 billion tonne ore reserves with access to existing rail & ports.
100
%
MGT Owned Tenements
Managed by our high-quality management team and board with extensive global mining experience.
68.5
%
Fe Premium DR Grade Iron Ore
Rare, 68.5% Fe premium grade iron ore product essential for low emission iron & steelmaking.
SA
Gov
Supportive South Australian Government
Government commited to 'green minerals' and green hydrogen industry development.
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