Magnetite Mines Ltd (ASX:MGT) has signed a non-binding memorandum of understanding (MoU) with Flinders Ports to investigate the provision of port facilities and services in South Australia for the export of MGT’s high-grade magnetite concentrate.
The objective of the agreement is to determine the optimal port options for MGT to export its magnetite concentrate through staged development of the Razorback Iron Ore Project and its life.
Port locations, including greenfield site Myponie Point, relative to Razorback Iron Ore project site.
Proximity to vital infrastructure
“Expanding on our recent agreement with Whyalla Ports, we are excited to be working closely with Flinders Ports to investigate all possible export options for the staged development of Razorback,” Magnetite Mines CEO Tim Dobson said.
“A key feature of the project is its location in South Australia, with nearby rail access to both existing and new proposed port locations on the eastern Spencer Gulf.
“We are particularly excited about the potential to access what could be the first deepwater port in the Gulf at Myponie Point, an option that will allow bulk loading of our products onto very large ore carrying vessels, without the need for transhipment.
“With renewable energy on grid and the development of a green hydrogen industry, the east Spencer Gulf region of South Australia is establishing itself as a major new economic region for SA with the potential to become a ‘green steel’ supply chain hub.
Leading port operator
Flinders Ports owns and operates seven commercial ports in South Australia - Port Adelaide, Port Lincoln, Port Giles, Klein Point, Thevenard, Wallaroo and Port Pirie.
Together these ports are estimated to handle in excess of 90% of South Australia’s exports.
“Flinders Ports is South Australia’s leading port operator with a demonstrated record of quality customer service and a commitment to further invest in our ports to support South Australia’s economic growth,” Flinders Ports Holdings CEO Stewart Lammin said.
“The eastern Spencer Gulf is shaping up to be a hub for critical mineral and iron ore supply chains and we’re looking forward to working with Magnetite Mines to provide an optimised port option for the staged development of the Razorback Iron Ore Project.”
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