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Project title Mawson Iron Project
Location 250 kilometres northeast of Adelaide
Project proponent Magnetite Mines Ltd (ASX:MGT)
Investment type The scope and type of investment is open to negotiation
Project cost Unknown
Industry sector Minerals
Industry sub-sector Magnetite iron ore
Responsible agency Investment Attraction South Australia
Project description
Investment opportunity
The Mawson Iron Province of South Australia contains the Braemar Iron Formation, first discovered by Sir Doulas Mawson while mapping the geology of the Adelaide geosyncline in the Barrier Ranges.
Studies show that production costs are in the lowest quartile of all internationally traded iron ore, and that metallurgical studies have established that a concentrate can be produced with a grade of 67.4 % iron or above.
Magnetite Mines advise the following:
• The initial stripping ratios in the Mawson Iron Province are very low
• High intensity blasting will achieve a large proportion of comminution in the mining operation
• Intended to use in-pit crushing and conveying which is significantly cheaper than diesel trucks
• The ore of the Braemar Formation is relatively soft with low abrasivity
• Innovative infrastructure solutions such as utilising slurry pipelines and a floating port capable of loading Valemax vessels ensures low capex and opex, and
• Low cost magnetite iron ore from the Mawson Iron project can replace current high cost, depleting magnetite resources from China.
South Australia offers a highly competitive environment and ease of doing business which supports profitable investments.
Project statusThe company is currently seeking investment partnerships to further the development of the project.
Project proponentMagnetite Mines Limited is a mineral exploration company exploring for iron ore and copper in South Australia and for iron, gold and uranium in the Northern Territory.
A memorandum of understanding between Magnetite Mines and Braemar Infrastructure exists for the implementation of an innovative slurry pipeline/infrastructure corridor to deliver iron ore concentrate from mine to ship in the Spencer Gulf.
Magnetite Mines Limited is funded by its shareholders and asset sales. The company’s strategy is to pursue mineral commodities, in particular iron ore that it believes can return shareholder value through development into a mining operation.
Further location details Magnetite Mines advise there is abundant social and manufacturing infrastructure, towns, roads, electricity capacity and gas in the project area.
Contact details Dr Gavin England General Manager Magnetite Mines P: +61 403 531 832 E: [email protected]
Robert Demarco Director Investment Attraction South Australia P: +61 417 889 643 E: [email protected]
Investment Opportunity - Mawson Iron Project
Adelaide
Disclaimer: This document includes information provided by third parties. The information is general in nature and is for information purposes only. The South Australian Government makes no representation about the veracity or accuracy of information provided by third parties. You must rely on your own due diligence before proceeding. You should seek independent professional advice.
www.invest.sa.gov.au
