Projects

The Razorback Iron Ore Project

Magnetite Mines’ flagship Razorback Iron Ore Project is a pre-development magnetite iron ore project capable of producing high-grade and Direct-Reduction grade (“DR-grade”) iron ore products required in low-carbon and zero-carbon steel production. The Project is 100% owned and operated by ASX-listed Magnetite Mines Limited (ASX: MGT). It has Probable Ore Reserves of 2 billion tonnes and a Mineral Resource Estimate of 3.2 billion tonnes (JORC 2012).

Comprised of the Razorback and Iron Peak deposits, the Project is located just 240 kilometres from Adelaide in close proximity to existing road, rail and port infrastructure. In light of the steel industry’s decarbonisation commitments, the Project holds significant strategic value as a potential upstream link in a globally competitive green steelmaking value chain originating in South Australia.

Muster Dam Iron Ore Project

The Muster Dam Iron Ore Project was awarded to Magnetite Mines following a competitive bid process administered by the South Australian Department of Energy and Mines (DEM). Located 110 kilometres northeast of the Razorback Iron Ore Project, the Muster Dam prospect has Inferred Mineral Resources of 1.6 billion tonnes (JORC 2012).

The award of the Muster Dam Iron Ore Project is an important exploration and development opportunity for given its potential for synergies with the Razorback Iron Ore Project. Furthermore, extensive past exploration work has uncovered additional prospects (Peaked Hill, Duffields and Surrender Dam) within the Muster Dam tenement.