GREEN GAME-CHANGER

MAGNETITE MINES IS WORKING TO TRANSFORM THE STEEL INDUSTRY THROUGH ITS RAZORBACK IRON ORE PROJECT IN SOUTH AUSTRALIA.

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South Australia is helping reshape the world's steel industry and its economic future as the state ambitiously works toward decarbonisation.

And there's one project that stands out as a critical pillar in this green transition: the Razorback iron ore mine.

The project has the backing of Green Iron SA, a consortium comprising its owner Magnetite Mines, construction and engineering company GHD, freight rail transport company Aurizon and Flinders Ports.

The days of utilising carbon-based materials to create steel may soon be behind us, as Green Iron SA looks towards producing sustainable, carbon-free iron by using green hydrogen and magnetite.

Green Iron SA spokesperson and Magnetite Mines managing director Tim Dobson said Australia holds lots of magnetite, which hasn’t been economic up until now.

“South Australia finds itself in a very fortunate position in that it already hosts the biggest magnetite reserves in Australia and has three different regions that contain massive amounts,” he said.

The state’s commitment to renewable energy has already positioned it towards a sustainable future and by 2027, SA plans to power its entire grid with 100 per cent renewable energy, having already reached 75 per cent through wind and solar.

“It’s then that you have the ability to make the magnetite concentrate and producers can use the renewable energy to make green hydrogen,” Dobson said.

“After that, you have what is needed to make green iron, which is going to be a very sought-after and profitable commodity for South Australia.”

A key player in this emerging green iron industry is the Razorback project, located in the Braemar region of SA.

Razorback is Magnetite Mines’ flagship project, containing 3.2 billion tonnes of magnetite ore and two billion tonnes of probable ore reserves.