Magnetite on track to complete Razorback iron ore PFS by July

Press | 01 Feb 2021

Special Report: Magnetite remains on track to complete the accelerated pre-feasibility study for its key Razorback iron ore project during the first half of this year.

The PFS aims to narrow the scope of a potential mine development towards a single optimised go-forward case that could lead to shipping first ore as early as 2024.

During the December 2020 quarter, Magnetite Mines (ASX:MGT) progressed infrastructure and permitting studies in tandem with technical studies that were focussed on the processing flowsheet and geological modelling.

“The Magnetite Mines team has a clear vision and commitment to deliver value by building an iron ore business based on the globally significant Razorback high-grade resource in the most capital efficient and timely manner possible,” executive chairman Peter Schubert noted in a Twitter post.

The company is also continuing to aggressively market and pursue all opportunities that make good commercial sense.

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