Calibre signs SA engineering contract amid Magnetite Mines merger

New South Wales construction and maintenance specialist Calibre Group has signed a contract with Magnetite Mines to provide engineering services for a multi-stage project in South Australia.

The first stage is scheduled for completion in six weeks and involves the delivery of a comprehensive narrative, setting out the Olary-Ward iron ore project combined with a preliminary engineering assessment (PEA).

“We have all the production for the Olary-Ward project covered Letter of Intent sales, so our focus is now on community engagement, permitting, financing and building out the project,” said Gordon Toll, Magnetite Mines’ executive chairman.

The South Australian Magnetite Consortium includes Lodestone Equities, which owns iron rights to prospective tenements to the east of Magnetite Mines’ exploration leases.

Both parties intend to simplify their corporate structure and merge all of their South Australian entities into one lists company.

In preparation for the merger, Fe Mines (previously Braemar Iron) will become a direct subsidiary to Lodestone and Olary.