The Drill Magnetite Mines

Magnetite Mines is developing its 100% owned Razorback Iron Ore Project located in South Australia’s Braemar Iron Formation with Stage 1 operations designed to produce 5Mtpa of high-value Direct Reduction (DR) grade magnetite concentrates, expandable to 10Mtpa. The global steel industry has committed to decarbonise steelmaking and the timing of this development is in line with the forecast increase in demand for premium-quality iron ore products required to produce green iron and consequently green steel. Green iron, which is produced using hydrogen instead of coal, is the key ingredient of “green steel” and is expected to attract a premium price.

With abundant magnetite in the Braemar Iron Region, a world-leading gigawatt-scale renewable energy grid, a strong Government commitment to green iron production, and proximity to existing industrial infrastructure, MD Tim Dobson highlights South Australia’s once-in-a generation green iron opportunity.

Visit Magnetite Mines Investor Centre

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