A new consortium has been officially launched with the aim of accelerating South Australia’s green iron industry.
Green Iron SA is comprised of mining developer Magnetite Mines, construction and engineering company GHD, freight rail transport company Aurizon and Flinders Port.
The consortium will focus its attention on harnessing the potential of the state’s Braemar iron region alongside its extensive renewable energy capacity.
Green Iron SA is proposing a phased development pathway, enabling the necessary foundations to be put in place to ensure the creation of a green iron industry in the state is sustainable.
The consortium’s project starts with fast-tracking the development of the Razorback iron ore project located 240km north east of Adelaide in order to create a secure supply of high-purity magnetite, a feedstock critical to the production of green iron.
The project then progresses to the production of direct reduction grade pellets and ultimately manufacturing and exporting direct reduced iron in the form of hot briquetted iron from the established industrial city of Port Pirie by the early 2030s.
Green Iron SA is calling for partnership with the South Australian and Federal Governments to fast-track critical enabling infrastructure in water, power, and logistics needed to support the new green iron industry.
Magnetite Mines managing director Tim Dobson said the time has come for South Australia to take advantage of its massive magnetite endowment.
“With six billion tonnes of magnetite resources ready to mine, Magnetite Mines is excited to take this important step toward building a world-class green iron industry in South Australia,” Dobson said.
“The Razorback iron ore project will play a pivotal role in supplying the high-grade feedstock necessary for green iron production, which is set to become a key export commodity, supporting our balance of trade as Australia transitions away from fossil fuel exports.
“This project not only aligns with global decarbonisation goals but also positions South Australia as a leader in sustainable mining and green iron production.”
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