Iron ore, News, Sustainability

Port Pirie gets a green steel boost

Port Pirie Regional Council and Magnetite Mines (MGT) have signed a memorandum of understanding (MoU) to boost the development potential of the region as a future green iron production hub.

The MoU provides a framework for the South Australia-based council and MGT to engage State and Federal Governments on the development potential for green iron production, undertake preliminary planning for future production and assess other partnerships that support a future green iron industry.

“On behalf of Port Pirie Regional Council, I am looking forward to the partnership with Magnetite Mines and accepting this significant opportunity to become more involved in green iron/steel production,” Port Pirie Regional Council Mayor Leon Stephens said.

“Port Pirie Regional Council has been exploring options to build upon our industrial strengths to attract alternative industry in order to diversify our local economy.”

MGT chief executive officer Tim Dobson said the company is excited to be collaborating with the council.

“We see a once-in-a-generation, economy-changing opportunity for South Australia to take a leading role in global steel sector decarbonisation thanks to its expansive magnetite resources, green hydrogen and renewable energy,” he said.

“All major international steelmakers are committed to reducing their carbon footprints, and need green iron to achieve that. It is clear to me that Port Pirie is a robust and logical location for South Australia’s second iron hub – processing and exporting Braemer iron ores for decades into the future.”

The MoU also provides a framework for cooperation on the development of supporting infrastructure for MGT’s Razorback iron ore project, including potential water supply elements and port development for the bulk export of magnetite products.

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