Magnetite Mines is now one step closer to mining at its flagship Razorback project in South Australia.
The company submitted a mining lease proposal (MLP) to the South Australian Department for Energy and Mining this month, a crucial milestone in the path to production from Razorback.
The site, located 240km northeast of Adelaide, is configured to produce five million tonnes per year of premium-grade magnetite concentrates suitable for green iron production.
“We are delighted to have reached this critical milestone for Razorback, setting in motion the development pathway for our flagship project,” Magnetite Mines managing director Tim Dobson said.
“Our team and consulting partners have completed a comprehensive and high-quality MLP submission commensurate with the large-scale, long-life aspects of our future Razorback mine.
“Razorback’s development timing is well positioned to coincide with both the emerging international demand for premium-grade iron ore concentrates and the green iron industry ambitions of State and Federal Governments, recently underlined by a Federal billion-dollar Green Iron Fund announcement.”
Once approved, the mining lease will provide secure tenure for construction, mining and ore processing operations at the site.
“The MLP submission represents not only the starting line for iron ore mining at Razorback, but the opening of an entire new Australian mining province with the potential to support green iron production and export for generations into the future, and the profound economic prosperity that comes with that,” Dobson said.
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