Magnetite Mines is ramping up its global partnerships as its Razorback iron ore project prepares to supply the booming low-emissions steel market.
In its December 2025 quarterly update, the ASX-listed company said it had broadened its strategy in response to shifting global iron and steel decarbonisation dynamics, with increased focus on jurisdictions progressing with greater urgency including China and the Middle East.
The non-binding heads of agreement with Japanese partner JFE Shoji Australia lapsed on December 31, 2025, in line with its agreed terms.
“JFESA continues to recognise the quality and strategic value of Razorback, with potential for future collaboration and supply discussions,” Magnetite Mines said.
The company also renewed its memorandum of understanding with ZEN Energy to explore a green iron production opportunity in South Australia. Magnetite Mines is positioned as the key raw material supply partner, with Port Pirie identified as the preferred location, aligned with the Green Iron SA consortium.
The Razorback mining lease proposal cleared the South Australian Government’s validity assessment and is now progressing to cross-agency review and public consultation, expected to begin in February 2026.
The Green Iron SA consortium also welcomed CSL Australia Pty Ltd, part of Canada’s CSL Group, adding world-class maritime logistics and bulk export expertise to support an integrated mine-to-market supply chain.
(Not related to the biotech company, CSL Australia Pty Ltd is an owner-operator of self-unloading and transhipment vessels and has extensive operational experience in the Upper Spencer Gulf, where it manages a floating offshore transhipment system near Whyalla.)
Infrastructure planning advanced alongside approvals, with ElectraNet’s NTx transmission study identifying a preferred high-voltage corridor near Razorback, potentially reducing power costs. Water supply planning also progressed under South Australia’s 20-year state infrastructure strategy.
“With approvals progressing, infrastructure planning firming and global decarbonisation accelerating, Razorback is positioning as a long-term supplier of DR-grade magnetite into emerging low-emissions steel value chains,” the company said.
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