Magnetite Mines Ltd (ASX:MGT) welcomes the completion of a peer review of the process plant for the Razorback Iron Ore Project in South Australia with outcomes confirming the feasibility of the Hatch-engineered flowsheet and plant design.

The company’s objective is to produce high-grade magnetite concentrate with grades above 67.5% iron, with the process flowsheet designed to process iron ores for minimum operating cost.

Independent assessment

An independent technical team completed the assessment across four key areas – process flowsheet; equipment selection, including crushing, HPGR, milling, dewatering and filtration; materials handling aspects; and metallurgical results.

The review confirmed the feasibility of the current process flowsheet and plant design and highlighted economies of scale benefits that may be realised with increased production capacity, in line with the decision to increase the scale of Stage 1 production capacity to a minimum of 5 million tonnes per annum.

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