Magnetite Mines (ASX:MGT) signs MoU with Flinders Ports to export iron ore
Magnetite Mines (MGT:ASX) has signed a non-binding Memorandum of Understanding (MoU) with Flinders Ports to investigate suitable existing and proposed port locations for the export of high-grade iron ore products from their Razorback iron ore project.
The parties aim to identify optimum port options for the staged development of Razorback up to 15Mtpa output, with the potential to access a greenfield deepwater port at Myponie Point offering direct to Capesize ship loading at berth.
Flinders Ports owns and operates seven commercial ports in South Australia, including Port Pirie and Port Adelaide, which will also be investigated as alternatives.
Magnetite Mines says the MoU establishes the framework for the two parties to investigate the provision of port facilities and related services required for exporting high-grade magnetite concentrates from South Australia to global markets.