THE RAZORBACK IRON ORE PROJECT
COMMUNITY
Magnetite Mines, a South Australian iron ore company listed on the ASX, is developing the Razorback Project, located 240km northeast of Adelaide. This project focuses on extracting high-grade iron ore from the Braemar Iron Formation, known for its potential to create low-carbon steel.
The Razorback and Iron Peak deposits, with a combined resource of 3.3 billion tonnes, will be mined using conventional methods and processed on-site to produce high-grade iron ore concentrate for steel production. The project will require extensive infrastructure development, including a processing plant, haul road, accommodation camp, and a dedicated power line.
ABOUT MAGNETITE MINES
Magnetite Mines is an ASX-listed iron ore company with a strong focus on the development of magnetite resources in the highly-prospective Braemar Iron Formation of South Australia. The Company, headquartered in Adelaide, has a total of ten exploration licences within SA – all 100% owned by Magnetite Mines
THE BRAEMAR - A NEW MINING REGION
The Braemar Iron Formation is a mineral province in SA’s Mid North and North-East Pastoral districts. Its extensive iron ore resources can produce high-grade concentrates suitable for the production of low-carbon steel as a step towards a decarbonised future.
With a rich heritage of mining in the region, including former mines at Burra, Teetulpa and Waukaringa, the Braemar can support large-scale mining of iron ore for generations to come.
Key Project Facts
5
Million
tonnes of iron ore concentrate per year
450
jobs during operations
56
Years
Up to 56 years of mining
(on current Ore Reserves)
$1
Billion
in additional economic activity in SA annually
PROJECT OVERVIEW
Introducing the Razorback Project
The Razorback Project is located 240km northeast of Adelaide and 85km east of the regional town of Peterborough amid arid, lowintensity pastoral country. The area is the traditional Country of the Ngadjuri, who have had connection with this land for over 45,000 years and continue as active custodians to this day.
The Razorback Project includes the development of two magnetite iron ore deposits, the Razorback and the Iron Peak deposits. Together these two deposits have a defined (2012 JORC) resource of 3.3 billion tonnes of iron ore and can produce high-grade iron ore concentrate products for use in steel production (67.5-68.5% iron grade) for up to 56 years. The average in-ground iron grade across the Razorback and Iron Peak deposits is 18.6%; as a result, the ore is processed to increase its grade.
Managing
our impact
Our Sustainability Philosophy
Magnetite Mines recognises that sustainable mining of iron ore can only be achieved by working in partnership with local communities, and through collaboration we can minimise our environmental footprint. With a commitment to embed a focused sustainability culture from the outset, Magnetite Mines aims to deliver the Razorback Project with leading environmental and social performance. Under our best-practice ‘foresight’ sustainability platform, Magnetite Mines strives to rigorously assess its potential performance, reduce its negative impacts and maximise its benefits
Value For The Community
Economic modelling demonstrates the extensive local, regional and State-level development potential of project operations, as demonstrated by direct employment and additional economic activity (as Gross State Product) outcomes.
Regional SA Jobs
Peterborough Jobs
403
134
36
SA Jobs
$1bn
$9m
$192m
economic value annually
economic value annually
economic value annually
Value For The Community
Economic modelling demonstrates the extensive local, regional and State-level development potential of project operations, as demonstrated by direct employment and additional economic activity (as Gross State Product) outcomes.
Regional SA Jobs
Peterborough Jobs
403
134
36
SA Jobs
$1bn
$9m
$192m
economic value annually
economic value annually
economic value annually
FAQs
Magnetite Mines is seeking approval for the Razorback Project under the Mining Act 1971. A Mining Lease Proposal (MLP), together with several Miscellaneous Purposes Licence applications, will be lodged with the South Australian Government in the second half of 2024.
Additionally, Magnetite Mines has referred the Razorback Project under the Australian Government’s Environmental Protection and Biodiversity Conservation Act 1999 to confirm whether any Federal approvals are required. The outcome of the referral is expected to be determined in July 2024.
The MLP and all supporting information will be made available by Magnetite Mines following its submission to the South Australian Government. Magnetite Mines will ensure that all documentation is accessible throughout the statutory consultation period, as prescribed by the South Australian Government.
The Razorback Project is a major resources development and, as such, is expected to have some short and longer terms impacts on the local environment.
Magnetite Mines has spent almost four years studying the existing environment, from groundwater to surface water, ecology to background noise, to robustly characterise pre-development conditions.
A range of technical impact assessments have been commissioned with leading local, national and international experts to assess the potential impacts arising from the project’s construction and operational activities. Outcomes of these technical assessments are being collated and further information will be made available publicly in the lead up to and following the submission of the Mining Lease Proposal.
Magnetite Mines has strived to reduce the impact of its planned activities as it builds towards a sustainable iron ore industry in South Australia.
Ensuring benefits of the Razorback Project flow to local and regional communities is a priority for Magnetite Mines. As the project develops, we will work concertedly with government, businesses and jobseekers to maximise participation in the construction and operations phases.
Magnetite Mines is aiming to provide more information on the types of employment and business opportunities arigin through the Razorback Project in late 2024.
Magnetite Mines has consulted extensively with landowners and communities associated with the Razorback Project. The company has held ten community information sessions, made numerous deputations to local councils and provided more than 50 one-to-one meetings since May 2023.
Magnetite Mines welcomes community members and other stakeholders to share their views at any time.
You can leave your views via our webform below, or please contact info@magnetitemines.com or call 08 8427 0516 to schedule a time to discuss your interests with a project representative.
Additionally, stakeholders and community members can make independent submissions regarding the Mining Lease Proposal to the South Australian Government as part of its statutory public consultation period.
Key Links
