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How is Iron Ore Mined? A Thousand-Year Yarn

Iron ore mining: it’s as old as the hills, but how is iron ore mined, summary: the future of iron ore mining, references:.

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THE RAZORBACK IRON ORE PROJECT

100% MAGNETITE MINES OWNED

Discover the Razorback Iron Ore Project

Learn more about the potential of Magnetite Mines' flagship Razorback Iron Ore Project from CEO Tim Dobson.

PROJECT OVERVIEW

Large Resource, Long Life

Outstanding location

Magnetite Mines’ flagship Razorback Iron Ore Project is a pre-development magnetite iron ore project capable of producing high-grade and Direct-Reduction grade (“DR-grade”) iron ore products required in low-carbon and zero-carbon steel production. The Project is 100% owned and operated by ASX-listed Magnetite Mines Limited (ASX: MGT).

The Project, consisting of the Razorback and Iron Peak deposits, has Probable Ore Reserves of 2.0 billion tonnes and Mineral Resources of 3.2 billion tonnes (JORC 2012). It is located just 240 kilometres northeast of Adelaide in arid, low-intensity pastoral country and benefits from proximity to existing infrastructure including open-user rail (~45km), the renewables-weighted South Australian grid (~120km) and a number of Spencer Gulf ports (~200km).

THE RAZORBACK IRON ORE PROJECT REDEFINED

tonne per annum - Stage 1

Concentrate

In response to industry feedback and emerging market developments, in September 2022 Magnetite Mines announced its decision to increase the scale of the first stage of the Razorback Iron Ore Project to a minimum of five million tonnes of production per annum (“Mtpa”) and to assess a number of other Project enhancements including the production of DR-grade concentrates.

The strategic shift to a larger-scale, staged development of the Razorback Iron Ore Project represents a compelling opportunity to capitalise on its substantial resource base and the favorable mineral processing characteristics of Braemar ores.

The Project’s current Mineral Resource Estimate of over three billion tonnes, including two billion tonnes of Probable Ore Reserves, is based on a limited number of drilling programs. The majority of the Project’s 110km strike zone is largely underexplored.

tonne per annum - Stage 2

BRAEMAR ADVANTAGE

The unique geology of Razorback

Learn more about what makes the Razorback Iron Ore Project so unique from the Magnetite Mines Study Director, Trevor Thomas.

Favourable Geology

The Razorback Iron Ore Project’s two key deposits, Razorback and Iron Peak, are part of the Braemar Iron Formation, a singular dipping tabular body with minimal structural complexity. The grades, thickness, dip and outcropping geometry of the Braemar Iron Formation are consistent over kilometres of strike. Research commissioned by the South Australian Government has estimated that the exploration potential of the Braemar region is over 50 billion tonnes based on existing mining tenements alone.

Braemar magnetite deposits, which consist primarily of siltstones, are notably softer than those in other iron ore producing regions in Australia and around the world, increasing grinding energy efficiency. In recent metallurgical test work, samples from the Razorback and Iron Peak deposits generated average bond ball work indices of 8.6kWh/t and 6.8kWh/t, respectively. Magnetite deposits hosted in banded iron formations, common to the Pilbara and Mid-West regions of Western Australia, have work indices in the order of 18-25kWh/t (i.e., 2 to 3 times higher).

The Razorback and Iron Peak deposits have negligible overburden (part of the resource outcrops) which is conducive to lower strip ratios and mining costs. In the interim economic update released to the ASX in June 2023, Magnetite Mines estimated a Life-Of-Mine strip ratio of 0.35 for a 91-year, 5Mtpa development at Razorback.

THE RAZORBACK IRON ORE PROJECT

The Power of Potential

The Razorback Iron Ore Project boasts excellent existing infrastructure, including proximity to highways, rail lines, and ports. This strategic location allows for efficient transportation of ore and potential access to 100% renewable energy from the South Australian grid by 2030. Additionally, the project aligns perfectly with the emerging green iron hub concept, positioning it for a sustainable future in the iron and steelmaking industry.

Existing Road, Rail and Port Infrastructure

The Razorback Iron Ore Project is located 240km from Adelaide close to the Barrier Highway (~40km), open-access rail (~40km) and existing iron ore ports on the Spencer Gulf coast (Whyalla 315km, Port Pirie 180km).

Roads in the area are a combination of national highways, state arterial roads and local roads. The Barrier Highway is part of the national freight network and is located just 40 kilometres from Razorback. It carries approximately 1,000 vehicles per day of which approximately 20 percent are road trains carrying freight.

The Crystal Brook-Broken Hill railway is also approximately 40km from the Razorback Project site. It is part of the Defined Interstate Rail Network (DIRN) and is owned and operated by the Australian Rail Track Corporation (ARTC). The rail line can carry 1,800 metre trains with 25 tonne axle loads and have an 80km/h speed limit. ARTC is currently undertaking a rail capacity modelling exercise to confirm its initial assessment that there is existing capacity to transport up to 10Mtpa of concentrate.

Magnetite Mines has signed separate Memoranda of Understanding with GFG Alliance and Flinders Ports to support the assessments of concentrate export from one of three viable port options: the Port of Whyalla (GFG Alliance), Port Pirie and Myponie Point (Flinders Ports).

Unique Access to Grid-Scale Renewables

During the 2022 DFS studies, GHD was engaged to design an electricity transmission line connecting the mine site to a substation at Bundey capable of accommodating the power requirement for a 2.5Mtpa operation. While several power supply options were explored during the Optimisation Studies, the 2022 design ultimately served as the blueprint for a revised power configuration consisting of a 275kV transmission line from Bundey and an 11kV substation at the mine site. The reconfigured transmission line can provide up to 400MVA of power, which provides ample expansion optionality over the initial targeted production rate of 5Mtpa and leaves open the possibility of electrifying materials handling activities at the mine site.

In May 2023, the Australian Energy Market Operator (AEMO) released details of a proposed high-voltage transmission link from Bundey to a mid-point in Yunta as part of the “Mid North Expansion (Northern) project”. Additional information was provided by South Australian network operator ElectraNet in its Transmission Annual Planning Update Report released in late May. The proposed line, intended to accommodate new renewable energy projects, has been indicatively designed to pass within 20km of the Razorback Project. While the development of the new line is uncertain, it represents a compelling opportunity for a near-site grid connection and substantial capital and operating cost savings. Magnetite Mines is actively engaging with ElectraNet to support their application for the Mid North Expansion (Northern) project and lobby for its approval by the AEMO.

Notwithstanding the final configuration, power for the Razorback Project will be sourced from the South Australian grid, which is forecast to be 100% renewables powered by 2030. The Company’s access to grid-scale renewables gives it a distinctive advantage in reducing, and possibly eliminating, the carbon footprint associated with its operations.

Green Iron Hub Potential

A notable recent development in the iron and steelmaking industry has been the emergence of the concept of a green steel or iron ‘hub’, in which steel or intermediate iron products are produced using low-cost renewable energy and green hydrogen. South Australia has been identified as an ideal location for such an initiative given its abundant land, solar and wind resources, existing mining and logistics infrastructure, stable regulatory frameworks, and vast reserves of magnetite deposits.

Magnetite Mines commenced Optimisation Studies in September 2022 to redefine the go-forward scope of the Razorback Iron Ore Project based on an initial production scale of at least 5Mtpa. The Company was able to leverage much of the work undertaken in the 2.5Mtpa DFS initiated in August 2021 encompassing mine planning, process plant design, tailings dam design, site layout, power supply and logistics solutions. The Optimisation Studies were completed on time in March 2023 and affirmed the viability of the redefined Project scope.

As part of the Optimisation Studies, Magnetite Mines commissioned additional metallurgical testwork based on new ore samples from its 2022 drill program (11 vertical PQ diameter and 6 inclined HQ diameter diamond drill holes) targeting prospective areas of the Razorback and Iron Peak deposits. The testwork, undertaken by Bureau Veritas, Weir Minerals, Loesche and Eriez, validated the ability of the Razorback Project’s processing flowsheet to produce 5Mtpa of high-grade iron ore on a Life-Of-Mine (LOM) basis with the following attributes (weighted average for all flotation variability testwork):

Al 2 O 3 % 

specification

(indicative)

67.5 – 68.5%

See ASX Announcement 28/02/2023

The Optimisation Studies undertaken in FY2023 have supported a 418% increase in the Project’s Probable Ore Reserves from 473 million tonnes to 2 billion tonnes over the reporting period, including a maiden Probable Ore Reserve of 362 million tonnes declared for the high-grade Iron Peak deposit. The updated estimate, released in two stages in March and June 2023, was prepared by mining consultancy AMC Consultants.

Tonnes Mt

eDTR %

Probable Ore Reserves

Ore Reserves are a subset of Mineral Resources and are quoted at an 8% eDTR (Mass Recovery) cut-off grade. Magnetite Mines Limited is not aware of any new information or data that materially affects the information included in the Ore Reserve announcement dated June 2023 and all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply.

The substantial increase in the Company’s Ore Reserves position in FY2023 was underpinned by an an increase in the Razorback Iron Ore Project’s Mineral Resource Estimate to 3.3 billion tonnes. Underpinning the revised estimate is 503 million tonnes of Mineral Resources attributable to the Iron Peak deposit with an estimated mass recovery of 19.4%, validated in the recent metallurgical testwork program. The incorporation of the 2022 drilling data, particularly for Iron Peak, resulted in an average mass recovery across the Project’s 3.3 billion tonne Mineral Resource of 16.0%.

Million Tonnes (Mt, dry)

Mass Rec (eDTR%)

Classification

All figures quoted at an 11% eDTR cut-off. Magnetite Mines Limited is not aware of any new information or data that materially affects the information included in the resource announcement dated February 2023 and all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The 8% eDTR utilised in the Ore Reserve differs from the Current Mineral Resource estimate which quotes an 11% eDTR cut off and is based on up-to-date mining assumptions.

Magnetite Mines has made substantial progress in derisking a viable logistics configuration for the first stage of the Razorback Iron Ore Project. Memoranda of Understanding were signed with port operators Whyalla Ports (part of the GFG Alliance Group) and Flinders Ports in February and March 2023, respectively, to progress commercial negotiations for port handling, shipping, and other services. Whyalla Ports operates the Port of Whyalla, the only port in South Australia currently exporting magnetite concentrates. Flinders Ports operates seven commercial ports including Port Pirie.

Three technically and economically viable Project water supply options were costed during the Optimisation Studies: the construction of a pipeline from the Spencer Gulf; the construction of a pipeline from a Murray Basin saline wastewater disposal scheme; and the development of a borefield in the northern part of the South Australian section of the Murray Basin, each requiring a pipeline to the mine site. Selecting a go-forward water supply configuration that is cost-effective, sustainable and that carries low technical and approvals risk is a critical near-term priority for the Company. In line with this objective, the Company submitted a formal Unsolicited Proposal to the SA Government relating to access to the Murray Basin saline wastewater resource.

In FY2023, Magnetite Mines progressed a broad range of activities contributing to the preparation of a Mining Lease Proposal (MLP), which is the primary development application process for mining projects under the Mining Act 1971 (SA). Multi-disciplinary environmental consultancy Eco Logical Australia, with which the Company has a longstanding working relationship, continued baseline characterisation studies and was commissioned to finalise all remaining work packages required to underpin a diligently-prepared MLP submission.

The Ngadjuri People are the Native Title holders, Traditional Owners and cultural custodians of the Razorback Project area, and for the majority of planned non-mining infrastructure corridors. Magnetite Mines has been actively progressing a voluntary Partnering Agreement as the ‘foundation stone’ for a respectful, productive and long-term relationship centered on the Razorback Project. The Partnering Agreement is anticipated to be finalised early in FY2024 and will support a collaborative approach for subsequent Project activities, including the negotiation of a Native Title Agreement.

Magnetite Mines’ close relationship with the District Council of Peterborough was formalised in a landmark Memorandum of Understanding announced in a Joint Media Release on 5 May 2023. The MoU underscores both parties’ commitment to work collaboratively to bring the Razorback Iron Ore Project to fruition with a focus on generating enduring social and economic benefits for the Peterborough community.

Hon. Geoff Brock MP, Mayor Ruth Whittle OAM, and CEO Tim Dobson attending the MoU signing ceremony

In June 2023, the company launched its bespoke sustainability platform ‘foresight’ , the culmination of a months-long, company-wide initiative aligned with the Company’s commitment to best-practice corporate governance. ‘foresight’ provides a framework for transparently evaluating the Company’s, and the Razorback Iron Ore Project’s, compliance with a range of principle and performance based voluntary initiatives intended to engender sustainable business practices in the mining sector.

Magnetite Mines Limited (ASX:MGT) is pleased to announce the signing of a Memorandum of Understanding (MOU) with Port Pirie Regional Council (Council) to elevate the development potential of Port Pirie as a future green iron production hub.

With the imminent release of the South Australian Government’s Green Iron & Steel Strategy, this MoU establishes a framework for Council and MGT to collaborate and position Port Pirie for future mineral “value adding” opportunities while ensuring community involvement throughout the planning process. 

DR-Grade Potential at Razorback

Strategic expansion for success.

Recognising the evolving market demands, Magnetite Mines strategically increased the initial production scale of the Razorback Project to a minimum of 5 million tonnes per annum (Mtpa) in September 2022. This strategic shift offers a multitude of benefits, including enhanced project economics through economies of scale and wider premiums for high-grade products.

Furthermore, the larger production scale makes the project more attractive to potential partners, customers, and financiers. Additionally, the expansion aligns with the project's significant Mineral Resource Estimate and paves the way for the potential re-estimation of Ore Reserves. It also opens doors for the electrification of key equipment, further solidifying the project's environmental credentials.

Rigorous Studies Validate Project Viability

In September 2022, Magnetite Mines launched Optimisation Studies to redefine the project's scope based on the new 5Mtpa target. These studies built upon the extensive work completed for the previous 2.5Mtpa feasibility study, successfully confirming the viability of the expanded project. They were finalized on schedule in March 2023.

Substantial Resource Upgrade

The comprehensive studies undertaken in 2023, including the additional testwork, culminated in a phenomenal 418% increase in the project's Probable Ore Reserves. This translates to a significant jump from 473 million tonnes to a staggering 2 billion tonnes! This includes a maiden Probable Ore Reserve of 362 million tonnes for the Iron Peak deposit. These updated estimates were derived from an open pit optimisation and incorporate the newly expanded Mineral Resource Estimate which now stands at an impressive 3.3 billion tonnes.

With its unique advantages, scaled-up production, and high-grade potential, Magnetite Mines' Razorback Iron Ore Project is poised to become a significant player in the iron ore industry.

Unlocking High-Grade Potential and Flexibility

As part of the optimisation studies, Magnetite Mines commissioned additional metallurgical testing using new ore samples obtained through their 2022 drilling program. This testing, conducted by industry leaders, validated the project's ability to produce 5Mtpa of high-grade iron ore throughout its lifespan.

Notably, the testing revealed the remarkable potential to produce ultra-high grade 70% Fe concentrates from specific Iron Peak samples, boasting a combined silica and alumina level of just 2.6%. This demonstrates the processing flowsheet's flexibility to adapt to market demands.

Mine Planning and Optimisation Techniques Applied in an Iron Ore Mine

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The surface mine planning and optimisation techniques such as block modelling, pit optimisation, scheduling, stockpiling and reconciliation that are and have been applied at an existing iron ore open pit operation are discussed in this report. The material of economic interest is separated as ON grade, OFF grade and Waste. There is a Mineral Resource Management (MRM) department that includes geology, rock engineering and planning; however, survey is excluded from the MRM structure, which is outside the traditional MRM hierarchy. Mine planning begins with a block model which is created through the Datamine software using information from exploration drilling. The block model is used in the whittle software to obtain an ultimate pit outline. The outline is used to create an ultimate pit design with the recommended geotechnical parameters. The mining block model is further used in the mine planning process. Life of mine plans, 12-month rolling plans and six-week plans are done. Stockpiling is included in the plans and there is a strategy in place to reduce the stockpiles. The material movement is done through load and haul using trucks and shovels. Reconciliation was considered and it was found that there was not a proper reconciliation process for the iron ore mine.

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Malisa, M.T., Genc, B. (2020). Mine Planning and Optimisation Techniques Applied in an Iron Ore Mine. In: Topal, E. (eds) Proceedings of the 28th International Symposium on Mine Planning and Equipment Selection - MPES 2019. MPES 2019. Springer Series in Geomechanics and Geoengineering. Springer, Cham. https://doi.org/10.1007/978-3-030-33954-8_11

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Iron ore mining industry worldwide - statistics & facts

Iron ore mining companies, iron ore traders, iron ore prices: on the rise again, key insights.

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Albemarle confirms further cuts at Kemerton lithium processing plant, 300 jobs to be lost

Up to 300 jobs could be lost after lithium giant Albemarle announced a halt on the construction of a third production train.

Albemarle operates a lithium refinery in WA's South West and owns 49 per cent of the lithium mine in Greenbushes.

What's next?

The announcement is expected to result in a billion-dollar impairment against the value of the refinery.

Up to 300 jobs could be cut at Albemarle's Kemerton plant near Bunbury after the company scaled back construction plans amid lower commodity prices.

The US-based lithium giant says it has made significant changes to the operating footprint at its Kemerton lithium hydroxide conversion site in Western Australia's South West region.

The company has announced it will stop construction of the third production train at the plant, in addition to placing the second train into care and maintenance.

Each Kemerton train has the capacity to produce about 25,000 tonnes of lithium hydroxide per year.

Plans for a fourth train were shelved in January in a decision the company insisted was a "scaling back" of the plant's proposed expansion .

At the time, the company said its focus would shift to the "construction and completion" of other projects at the facility.

Albemarle holds a 49 per cent stake in the Talison joint venture that controls Australia's biggest lithium mine at Greenbushes.

"The long-term growth potential for our end markets remains strong, and we plan to leverage our core capabilities while ensuring we remain competitive," chairman and chief executive Kent Masters said.

"Building on the progress already underway.

"We are announcing a comprehensive review of our cost and operating structure, beginning with immediate footprint actions at our Kemerton site in Australia."

The ABC understands the move will lead to 300 job losses, but Albemarle is expected to retain around 460 people at Kemerton.

Lithium analyst Romana Sala Tenna said the price of spodumene – an upstream product ahead of lithium hydroxide production – has fallen much further than anyone was expecting.

"Downstream processing in WA was always going to be a challenge," he said.

"It is a high-cost environment and a high [capital expenditure] environment to produce lithium hydroxide.

"It probably indicates that the future of the downstream processing facilities in WA are going to be challenged."

Little warning for workers

The Australian Manufacturing Workers Union said the lack of consultation was disappointing.

"Albemarle turned up in the South West in 2020 promising they would provide secure, well-paid jobs of the future for manufacturing workers," WA secretary Steve McCartney said.

"All they've done in that time is either put workers' lives at risk or sack people at the drop of a hat.

"South West manufacturing workers are unlikely to ever have the confidence again that working at Albemarle is worth the hassle or the risk."

Federal Resources Minister Madeleine King extended her sympathies to the impacted workers.

"There will be 300 workers who will have a bad time today and I really feel for them and I'm sorry there has been no warning for them," she said.

"These are great jobs in and around Australind and Bunbury and Busselton and they will be feeling it.

"But this is a decision made in North Carolina, like Alcoa in Kwinana before."

Ms King said she had been advised by Albemarle that 300 employees would be affected by the company's latest announcement and that there could be an impact on a proposed workers' village under construction in Australind.

South West Liberal MLC Steve Thomas said the decision was not surprising given the volatility of the lithium market over the last year.

"What should now be obvious to everyone is that price volatility of other minerals is a significant economic risk factor, just as it is for iron ore," he said.

"Which means that the debate on diversification has to go beyond just picking the next boom mining commodity."

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The Lampotal Plant is located on Ejido property in the Municipality of Veta Grande, Zacatecas, Mexico, in the town of Lampotal. The Plant’s original design was that of a 10 tank static vat leaching plant, which operated for approximately 30 years, processing approximately 200 tons a day, of material from the Spanish Colonial period, that was first processed by the mercury amalgamation process. In 1995, the Plant shut down due to continued increases in operating expenses, and the low spot market price of silver that came about in the later part of the 1980s. Each leaching tank can hold approximately 320 metric tons of tailings. Traditionally, static vat leaching plants processing this type of material, recover about 50% of the ore’s recoverable precious metals values. The final product would be a concentrated precipitate of silver, gold, mercury, copper, and other trash base metals and organic materials.

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MagIron Announces Globally Significant Maiden Mineral Resource

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Aug 05, 2024, 06:31 ET

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GILBERT, Minn. , Aug. 5, 2024 /PRNewswire/ -- MagIron LLC ("MagIron" or the "Company) is pleased to announce a maiden Inferred Mineral Resource estimate of 2.6 billion metric tonnes with an average iron content of 36.82%. This mineral resource estimate was prepared by Qualified Persons ("QP") as defined by NI 43-101 at independent firm Global Minerals Engineering ("GME") who performed this estimate in accordance with generally accepted mine and geologic engineering methods and standards for mining engineers and geologists licensed by the State of Minnesota .

The mineral resource is based on data from historical drillings assays, mine maps and mine cross sections, and is consistent with MagIron's own internal estimates. GME also confirmed that the identified mineral resource should be amenable to Direct Reduction ("DR") ore concentration using developing technologies as proven by recent test work on Canisteo samples conducted by the Natural Resources Research Institute of the University of Minnesota . This mineral resource excludes the legacy iron-bearing stockpiled materials available to MagIron, which themselves are expected to support over 20 years of MagIron Plant 4 operations. The 2.6 billion metric tonne iron oxide resource is located within land effectively controlled by MagIron and the majority of the in-situ resource is owned by MagIron or within lands already under lease to MagIron.

David Meineke , President and CEO at Global Minerals Engineering and one of the QPs for the resource estimate said, "This area has great potential for inground mining of hematitic resources using present and future mineral processing technologies."

Larry Lehtinen , CEO of MagIron said, "We are delighted to announce this maiden in-situ mineral resource that illustrates the globally significant endowment of DR quality iron ore effectively controlled by MagIron. While our immediate strategy continues to focus on the low capex, low risk restart of our iron ore concentrator to process stockpiled legacy iron-bearing materials from historical mining operations, the presence of this large, partially pre-stripped DR quality iron oxide deposit adjacent to MagIron's Plant 4 presents a compelling growth opportunity. This resource positions MagIron to become a major supplier of DR grade iron products that will be critical to the transition to green steel for many decades, both in North America and globally."

He added, "We continue to make advancements in financing, engineering and permitting and we look forward to providing further updates on our progress shortly."

About MagIron

MagIron was established to support and accelerate the decarbonization of the steel industry by becoming a key supplier of high quality, low carbon iron units which will be critical for the future success and decarbonization of the US steel industry. The Company is focused on the restart of Plant 4, a modern, past-producing iron ore concentrator benefiting from over $170 million of prior investment. The facility has previously operated at an annualized run-rate of approximately 2.0 million tonnes per annum ("mtpa") of BF grade concentrate and was designed to expand to 3.0 mtpa relatively quickly and at low capital intensity. Plant 4 is designed to process previously discarded waste materials from historical mining operations and convert such feed materials into high grade, low impurity iron ore concentrate. Given the significant historical mining operations across the Mesabi Iron Range in northern Minnesota , there are vast amounts of waste material close to Plant 4, which are suitable as feedstock to support a multi-decade business plan.

SOURCE MagIron LLC

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MinRes in $600m pre-sale of iron ore to boost balance sheet

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Mineral Resources, the diversified miner led by billionaire businessman Chris Ellison, says it has pre-sold $600 million of iron ore amid questions over the management of its balance sheet, sending the company’s share price sharply higher.

MinRes, in an investor update for the quarter, said it was following the lead of Andrew Forrest’s Fortescue in accessing “pre-payment funding”. The $600 million will be accounted for in $200 million lots over three years from 2026, based on iron ore prices.

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Fastmarkets International Iron Ore & Green Steel Summit 2024

Steelmaking is changing. rapidly. make sure you’re ready, with actionable information on new opportunities, market dynamics and green steel innovation. this event is also the place to connect with key stakeholders and foster partnerships that pay., meet 300 leading voices.

Gain vital market intelligence, share common challenges and leave with a little black book packed with new contacts from across the world.

Expert insights

Hear from across the iron ore supply chain about the latest supply and demand dynamics. How is the push for green steel impacting high-grade iron ore demand? Where are the opportunities globally if Chinese demand does fall? Our experts will dig into that and more.

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Fastmarkets analysts will provide the latest data and insights, to inform your negotiating and trading. Hear the story behind the data as the steel industry undergoes seismic change.

Green Steel Summit

For the first time, the International Iron Ore conference will include a special focus on green steel. It’s an area that’s set to explode as sustainability becomes more central to everyday business.

The inaugural Green Steel Summit is a key add-on to the traditional International Iron Ore conference – as steelmakers’ future strategies dictate the type of raw materials used in steel production.

Now’s the time to get the inside track on green steel – and how your company can benefit from it – from industry experts and pioneers.

Your ticket to the International Iron Ore 2024 Conference includes access to the Green Steel Summit, giving you more value than ever in your conference pass.  

If you’d just like to attend the Green Steel Summit, a limited number of one-day passes are available to certain parts of the green steel supply chain.

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Midrex is the world leader for direct reduction ironmaking technology and aftermarket solutions. Midrex has designed, built, and serviced direct reduced iron (DRI) plants for 50-plus years. Plants based on MIDREX® Process technology produce approximately 80% of the world’s low CO2 DRI.  The MIDREX Process is highly flexible and plants can be configured to operate on natural gas, natural gas with hydrogen addition (MIDREX Flex™), and 100% hydrogen (MIDREX H2™). Any iron oxide pellets and lump ores can be transformed into either cold DRI (CDRI), hot DRI (HDRI), or hot briquetted iron (HBI). Combination plants can simultaneously discharge CDRI and HDRI, and proven systems are available for transporting and charging HDRI into melting furnace.  The company’s headquarters and research and technology development center are located in Charlotte, NC, USA. Midrex Technologies also has offices in the United Kingdom, China, India, and UAE (Dubai).   For more information, please visit www.midrex.com .

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Anglo American is a leading global mining company and our products are the essential ingredients in almost every aspect of modern life. Our portfolio of world-class competitive operations, with a broad range of future development options, provides many of the future-enabling metals and minerals for a cleaner, greener, more sustainable world and that meet the fast growing every day demands of billions of consumers. With our people at the heart of our business, we use innovative practices and the latest technologies to discover new resources and to mine, process, move and market our products to our customers – safely and sustainably.  As a responsible producer of copper, nickel, platinum group metals, diamonds (through De Beers), and premium quality iron ore and steelmaking coal – with crop nutrients in development – we are committed to being carbon neutral across our operations by 2040. More broadly, our Sustainable Mining Plan commits us to a series of stretching goals to ensure we work towards a healthy environment, creating thriving communities and building trust as a corporate leader. We work together with our business partners and diverse stakeholders to unlock enduring value from precious natural resources for the benefit of the communities and countries in which we operate, for society as a whole, and for our shareholders. Anglo American is re-imagining mining to improve people’s lives.  

Champion, through its wholly-owned subsidiary Quebec Iron Ore Inc., owns and operates the Bloom Lake Mining Complex, located on the south end of the Labrador Trough, near Fermont, in Québec. Bloom Lake is an open-pit operation with two concentrators that primarily source energy from renewable hydroelectric power and have a combined nameplate capacity of 15 Mtpa. Benefiting from one of the highest purity resources globally, the Company is investing to upgrade half of the Bloom Lake mine capacity to a direct reduction quality pellet feed iron ore with up to 69% Fe. Champion Iron is strategically positioned to play a significant role in the green steel supply chain with its various growth projects.    

Derrick Corporation offers industry-leading solutions tailored specifically for the iron ore sector, providing unmatched efficiency, reliability, and productivity where it matters most in the processing journey. With cutting-edge technologies and decades of expertise, Derrick delivers superior performance, reduced operating costs, and enhanced sustainability for iron ore producers worldwide.   Derrick’s innovative classification solutions, including the SuperStack ® and Polyweb ® urethane screen panels, optimize iron ore particle separation through precise sizing, resulting in higher throughput and improved concentrate quality.   As more industries shift towards sustainable practices, Derrick leads the way with eco-friendly solutions that minimize environmental impact and support the transition to high- grade production.    

Grängesberg Exploration Holding AB (GRANGEX)  is a group of companies that identifies and  developes Scandinavian iron ore deposits suitable for production of ultra high grade pellet feed with the lowest possible Scope 1& 2 levels, necessary for green DRI production, thus becoming an enabler for fossil free steel production. GRANGEX published the DFS for its green Dannemora magnetite mine in December 2022, and is currently in the execution phase bringing the Dannemora mine into green production, with the aim for 1,1 Mtpy 68% Fe pellet feed production by 2025. In March 2023 GRANGEX and  Anglo American agreed a royalty agreement and binding terms for a life of mine off take arrangement.

J&F Mining is now called Lhg Mining We are proud to announce that J&F Mining is now called Lhg Mining. A change that reflects the major transformation the company has undergone in the last two years. We are rapidly expanding our team and our production. Many investments are being made in operation, logistics and management. Like all J&F Group companies, the mining business now has its own name. Our new brand emphasizes our excellence, highlighting the quality and benefits of our flagship product: high-grade iron ore granulate. Or Lump High Grade. This new chapter strengthens our connection with our stakeholders, highlighting the competitive differentials that come from our mineral reserves and the daily effort of each one of us to be the best at what we set out to do. Founded in 1953, J&F Group is the largest privately-held Brazilian enterprise and the parent company of JBS, the world largest producer of animal protein. Lhg Mining is the group’s first initiative in the mining industry, following the acquisition of MCR (Mineração Corumbaense Reunida) in July, 2022. The company owns two mines in the state of Mato Grosso do Sul in Brazil, with vast reserves of high-grade iron ore and manganese ore. Its natural lump ore’s quality positions Lhg Mining as one of the best existing alternative source in the world for the production of green steel. The company has a lean structure with more than 2,500 employees, a private port, and an integrated mining & logistics system. 

LKAB is an international mining and minerals group that offers sustainable iron ore, minerals and special products. We are committed to developing carbon-free processes and products by 2045, leading the transformation of the iron and steel industry. Since 1890 we have developed through unique innovations and technological solutions and are driven forward by almost 5,200 employees in 12 countries. In 2023, the LKAB group had sales of about SEK 43   billion.  lkab.com      

Primetals Technologies is a worldwide leading engineering, plant-building, and lifecycle services partner for the metals industry. The company provides metals producers with cutting-edge, custom-tailored plant equipment and services. Our latest focus areas include solutions for carbon-reduced and decarbonized iron- and steel production, the digitalization of all production-related processes, advanced automation as summed up by the term “Industry 4.0”, future-oriented designs for linked casting and rolling, as well as advanced process analysis and optimization. This portfolio covers every step of the iron and steel production chain, extending from the raw materials to the finished product – in addition to the latest rolling solutions for the nonferrous metals sector. Primetals Technologies, Limited, headquartered in London, United Kingdom, is a pioneer in the metals industry. The company is a joint venture of Mitsubishi Heavy Industries and partners, with around 7,000 employees worldwide. To learn more about Primetals Technologies, visit the company website   primetals.com .  

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Polymetals acquires Endeavor underground mine in Australia

Polymetals plans to start production from the Endeavor mine in the first half (H1) of 2025.

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Polymetals Resources (POL) has acquired the Endeavor silver, lead and zinc mine, situated 40km north of Cobar, New South Wales (NSW) in Australia.

The acquisition was finalised with the transfer of 100% shares to Polymetals’ wholly owned subsidiary, Cobar Metals, from CBH Resources and its subsidiary companies, Endeavor Operations and Cobar Operations.

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The sale covered the Endeavor underground mine, a 1.2 million tonnes (mt) per annum processing plant, 1,100km² of tenements and supporting infrastructure.

As part of the acquisition terms, one million fully paid POL shares will be issued to CBH Resources.

With the ownership transfer complete, Polymetals is set to ramp up refurbishment works at the site and proceed with the recruitment of key management personnel.

Polymetals will now focus on commencing production and generating sales revenue from the Endeavor mine during H1 2025.

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In addition to the on-site activities, Polymetals is finalising an optimisation plan for the Endeavor Mine and securing project financing.

Polymetals executive chairman Dave Sproule said: “We can now get on with what the company has done best for many years, namely the cost-efficient development, management and operation of mines within Australia and particularly within the very familiar and fertile polymetallic Cobar Basin.

“The Endeavor mine remains with an outstanding endowment of JORC Resources (16.3mt @ 8% Zn, 4.5% Pb [lead] and 84g/t Ag) and compelling exploration potential likely to extend the initial ten-year mine life.”

In 2023, Polymetals launched a mine restart study (MRS) for the Endeavor lead-zinc-silver mine, which is said to hold highly prospective exploration licences.

The mine is estimated to hold 16.3mt of lead, zinc and silver within its mining leases.

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Iron Mining

Melanie Humphrey [email protected] 906-250-7564

Regulated by Part 631: Ferrous Mineral Mining , ferrous or iron containing minerals are used in common manufactured products. Michigan’s iron bearing formations have long been sources of these important minerals. Lake Superior iron deposits account for 90 percent of U.S. iron production over the last 50 years and Michigan and Minnesota are the only states within the U.S. that currently mine iron ore.   Part 631: Ferrous Mineral Mining , provides a sound regulatory framework for the mining operations and reclamation required for the safe and environmentally sustainable extraction of ferrous minerals. The Department of Environment, Great Lakes, and Energy (EGLE), Oil, Gas, and Minerals Division (OGDM), implements Part 631. The ferrous mining industry is also regulated by other environmental statutes and divisions within the EGLE such as the  Air Quality Division  and the  Water Resources Division . There are currently two permitted iron mines in Michigan, both in Marquette County – the Tilden Mine and Empire.

Law and Rules: MI Administrative Code for EGLE-Oil, Gas and Minerals Division Part 631: Ferrous Mineral Mining

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Empire Mine

The Empire Mine is located on the Marquette Iron Range, adjacent to the Tilden Mine south of Ishpeming. The Empire Mine was permitted under Part 631 in 2002 as an active open pit mine and processing plant until 2016 when the decision was made to indefinitely idle the iron ore mining and pellet production activities. This decision was made due to the expiration of partnership and commercial agreements and the limited availability of economic ore reserves. A long-term care and maintenance plan is in place to preserve the assets for future optionality if market conditions improve and justify the major capitol investment required to access these resources.

Part 631 requires the submission of an annual report showing all existing mining areas or areas subjected to mining by the operator of the mine as well as the progress and success of reclamation activities.

Mining Permit Status: Issued, in effect

Cliffs Natural Resources

Empire Mine Permit

Annual Reports:

2022 Combined Annual Report for Empire and Tilden Mines 2023 Empire Mine Annual Report  

Tilden Mine

The Tilden Mine is an active open pit mine located on the Marquette Iron Range, approximately five miles south of Ishpeming. Permitted under Part 631 in 2002, this mine is owned and operated by Cleveland-Cliffs Inc, and consists of an open pit, truck and shovel mine with on-site single stage primary crushing, autogenous grinding, and floatation separation processes and pellet plant. Iron ore pellets are transported from the mine site by rail to a deepwater port located in Marquette. The Tilden Mine produces several million long tons of Iron ore pellets each year.

Tilden Mine Permit

2022 Combined Annual Report for the Tilden and Empire Mines 2023 Tilden Mine Annual Report

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Sustainability

Winning Consortium Simandou (“WCS”) plans on commencing an iron ore mine in the Kankan Region, Kérouané Prefecture of Guinea, Africa. The Simandou area (Figure 1) is split into four mineable blocks, Block #1, #2, #3 and #4, of which Block #1 and Block#2 (Figure 2) are owned by WCS and is where the Simandou Project is located. WCS owns 100% of the Concession extending the entirety of Blocks #1 and #2.

The Project is currently in the design, engineering and impact assessment phase, with preparation of the bulk of on-site construction planned for 2022.

WCS won the public tender to develop Simandou Iron Ore Blocks #1 and #2 on 12 November 2019 and signed a Base Convention agreement with the Guinean Government on 9 June 2020, which was approved by the Guinean National Assembly on 26 June 2020. Winning Consortium Simandou Railway (hereinafter referred to as “WCSR”) and WCS signed a Rail Infrastructure Agreement for Simandou Iron Ore #1 and #2 with the Guinean Government on 12 November 2020, which was approved by the Guinean National Assembly on 23 November 2020. The same process applied for the Winning Consortium Simandou Port (hereinafter referred to as “WCSP”) and WCS, signing on the same day of 12 November 2020 and also being approved on 23 November 2020.

Amongst iron ore deposits worldwide, the overall Simandou deposits constitute the largest unexploited reserve of high-quality iron ore. The blocks #1 and #2, to be developed by WCS, currently accounts for more than 1.8 billion tonnes of estimated reserves, with an iron content of more than 65.5wt%.

1.1  Summary Project Description 

Construction of the full Project will take approximately 5 (five) years to complete. The mining and mineral processing operations will run for a minimum of approximately 25 years .

The Simandou Project is a mining project of global importance, comprising:

• An open-pit iron mine in the Simandou mountain range in south-eastern Guinea, approximately 600 km from the Guinean coast, with an estimated potential capacity of up to 100 million tonnes per year, located east of the town of Kérouané.
• The construction of a 600km railway. In order to exploit the iron ore from blocks #1 and #2, WCS has undertaken, within the framework of the mining agreement signed with the Guinean Government, to build a “trans-Guinean” railway of approximately 600km length, to link the Simandou mine to the Guinean coast, and to build new port facilities to export the iron ore.
• For the first phase, WCS plans to build port facilities on the Morébayah River estuary near Senguelen, in the Prefecture of Forecariah, to load iron ore onto barges, then load onto large ocean-going vessels through its high-capacity transhipment terminals at sea.
• Subsequently, a new deep-water port is planned in a second phase.

Construction of ‘early works’ for the proposed port, railway, mining and processing facilities and associated infrastructure has commenced in early 2021 (principally land platforms, access roads and the setting up of construction camps), subject to permitting and approvals from the competent authorities.

The location map of the Simadou project is provided in Figure 1.

Figure 1: Proposed Project Alignment, showing Terrain, and Prefectures

1.2  Project sponsor

Winning Consortium Simandou is a Consortium set up by the founders of SMB Winning Consortium, namely Winning International Group from Singapore, China Hongqiao, and UMS Guinea.

The company WCS and its affiliates will develop and operate the open pit iron ore mine, the railway, the port and an airport. Construction will be completed by several major international contractors, including Chinese companies and Guinean service providers specialized in survey, design, construction as well as the operation of mines and logistics.

The Project will employ several thousands of people to support the development of the Feasibility Studies and related activities. During the construction phase, tens of thousands of people are anticipated to participate in the project either directly or indirectly. WCS will respect its commitment to engaging and deploying local resources and content in the Base Convention, Railway Infrastructure Convention and Port Infrastructure Convention.

1.3  Project location and key components

The Simandou ountain range extends for 110km in length and is orientated north-south; the proposed WCS mining area is estimated to be approximately 50km in length in a north-south direction. The mountain ridge, which rises sharply from 300 to 900m above the plain, has multiple communities, towns and cities adjacent to the hill sides and on the plains both to the east and west.

The largest town and prefecture, Kérouané, is located adjacent to the foothills west of the mountain range. The two Blocks straddle the rural communes of Kounsankoro, Damaro, Linko and Kérouané. The project for the exploitation of iron ore in Blocks #1 and #2 covers an area of approximately 362 km².

The railway route currently planned by WCS crosses 4 Administrative regions, 8 Prefectures and 23 Municipalities (“sous-prefectures”) including 2 urban communes. Based on initial studies, within 400m of the area of potential direct social or environmental impacts, there are approximately 220 villages, several of which are intended to be relocated as part of the land acquisition and resettlement engagement activities. Within 2km of the potential indirect impact zone (proposed standard zone of influence of the project), there are approximately 450 localities.

The mining project plan consists of overburden removal, followed by conventional blasting and open pit mining, however, other than crushing and screening, no processing will be undertaken on site during Phase I. The ore will be passed through primary, secondary, and tertiary crushing to obtain an aggregate particle size suitable for direct sale to iron and steelworks. The unprocessed ore will be transported and delivered via railway to the Morébayah port.

A preliminary site layout is illustrated below in Figure 2, illustrating some of the proposed infrastructure locations such as: airstrip, crushers, dams, accommodation mine camp and railway loadout.

Figure 2: Current Proposed Mine Site Layout

The footprint of the future river port covers and area of approximately 3.45km², on the left bank of the Morébayah. This proposed infrastructure for Phase I consists of:

• Two general cargo berths with an unloading facility for barges, including one for handling petroleum products;
• Four berths equipped with gantry loaders for loading iron ore onto barges;
• A railway loop which is the terminal of the rail transport line for iron ore export and sending supplies to the mine;
• A storage yard for general cargos including construction material during the construction phase; with a spur railway line during the operation phase to load equipment, materials and fuels onto trains to be transported to the Simandou mine;
• An iron ore storage yard equipped with stackers and reclaimers;
• Rotary dumpers to unload the iron ore wagons, connected to conveyor belt systems for handling the iron ore;
• An office building and base camp;
• An electrical station with heavy fuel generators;
• Freshwater supply and distribution system;
• Workshops for maintenance, repair and welding;
• Warehouses for spare parts and consumables;
• A wastewater treatment plant and a settling tank;
• A waste storage area, to be followed by the construction of an incinerator;
• An Oxygen-Acetyline factory within the port limit;
• 4G mobile phone towers, required for communication within the port area, for boats positioning and for communication in the channel and transhipment anchorage; and
• Two quarries for construction materials: one for granite at Senguelen equipped with a crushing station, and one for laterite at Bamboro.

The existing rural track between the N4 road at Maferinya and the port has been repaired by WCSP. An access road along the railway will be built to connect the port to the N4 road in order to provide bypass for the communities as well as for the urban area of Maferinya.

Besides the above onshore facilities, a river channel will be dredged to allow the barges and ships to navigate to the transhipment anchorage suitable for large ocean-going vessels.

1.3.2 Railway

The railway starts near Port Morébaya, runs eastward to Forécariah, then runs along the border between Guinea and Sierra Leone, passing Kelemou, Madina, and then the Kuru Mountains to the south of the Fouta Djallon Highland via the Kindia Tunnel (11.80 km) and passing Kassa Station. After Kassa, the railway extends northeast and crosses the highland mountains via the Mamou Tunnel (8.95 km), passes along the southern foothills of the mountains until Ouré-Kaba Station, past Tagagna and Liaya, and then the route leaves the border. It then runs parallel with the N1 Highway heading to the east and southeast, before crossing the Niger River and again running in parallel with the N1 Highway until Faranah Station. After Faranah, the railway extends east along the southern boundary of the Upper Niger National Park, crosses the Mafou River, the Niandan River and the N33 Highway, passes Nialinko Station and runs along the mountains. It then passes Diankoya Station, crosses Sonamba River to the south of Médina, runs southeast until the west of Kérouané Township where the Station is established, crosses the Milo River and finally arrives at the foothills of the Simandou Mining Area.

The Mining Project will include the following components:

• Mine Access:  access to the open-pit mine will be via access roads going uphill to the top of the mountain, most probably on both east and west sides during construction.
• The pioneer mining area will comprise one or two open pits, using the blasting and excavation method to exploit the iron ore blocks, with haulage by heavy duty trucks to feed into the prime crushing stations at the designed fringe of the open pits. Conveyor systems will then carry the ore downhill to reach the processing plant.
• Mineral Processing: the crushed iron ore will be transported from the pit areas to the mineral processing plant via two or three surface conveyors. The mine plant site will be located on relatively flat ground close to the train loading facility northwest of the deposits. Mineral processing will consist of screening and secondary crushing. The final product is high-grade iron ore fines and lumps ready for rail shipment and sea shipment.
• Mine Support Facilities: support facilities will be located adjacent to the railway terminal on the west side of the mine. These include a mining camp, mobile equipment workshop, fuel storage, power generation, concrete batch plant, administrative offices, temporary ore storage and water management infrastructure.
• Rock waste material left over after mining will be stored in a dumping pit. The location of the dumping pit will be carefully chosen, taking into consideration environmental and safety factors. Proper preservation measures will be deployed to ensure the stability of the waste stockpiles and to avoid waste rocks to be flooded by heavy rain.
• Other supporting facilities will include a water reservoir, to be constructed to maintain fresh water supply to the mining facilities both for living use and for environmental purposes such as dust suppression. Other miscellaneous facilities required are being assessed and designed.
• A supporting airport 20km north of Kérouanéis being planned to improve the logistics to the mine. The airport will be constructed in three separate phases. The runway will be initially laterite in Phase 1A, then to be hardened by concrete in Phase 1B. There is a potential plan to expand to a longer airstrip during Phase 2. Phase 1B includes constructing buildings and facilities required for airport operation.

1.4  International standards

1.4.1 ifc performance standards.

WCS commits to develop the Simandou Project in compliance with the Equator Principles requirements (version IV, June 2020). As a result, WCS and the Project are committed to comply with the Performance Standards (PS), in particular PS1, PS2, PS4, PS4, PS5 and PS6.

The IFC Performance Standards define a project’s role and responsibilities for managing health, safety, environmental, and community issues to receive and retain Equator Principle-participating lender support.

1.4.2 Equator Principles

The Equator Principles are currently used as the benchmark for commercial lending. The Equator Principles were developed to provide an approach to determine, assess and manage environmental and social risk in project financing.  The current version, the Equator Principles IV (EP IV) gives greater emphasis on i) human rights considerations in due diligence and an acknowledgment of the United Nations (UN) “Protect, Respect and Remedy” Framework for Business and Human Rights and Guiding Principles on Business and Human Rights; ii) provides a new set of requirements to address Climate Change and its adaptive management; and iii) requires a reinforcement of reporting and transparency requirements.

EP Principle 3 on Applicable Social and Environmental Standards establishes the IFC Performance Standards and the World Bank Group (WBG) Environmental, Health and Safety (EHS) Guidelines to complement the host country legislation as the basis for social and environmental performance.

1.4.3 WCS Corporate Policies

WCS is committed to ensuring its worldwide operations provide a comprehensive positive societal impact.

The Board of Directors of WCS is developing a Code of Ethics and Business Conduct (the “Code”) applicable to all employees, officers and directors of the Company and its subsidiaries (collectively referred to in the Code as “employees”) to promote honest and ethical conduct, full, fair, accurate, timely and understandable disclosure, and compliance with applicable governmental rules and regulations. It is expected the Code and other corporate policies will be adopted in July 2021.

WCS’s corporate policies are dealing with:

• Human Resources Policy
• Supplier Code of Conduct
• Anti-Bribery and Anti-Corruption Policy
• Whistleblower Policy

WCS supports the Extractive Industries Transparency Initiative (EITI), which was established to increase transparency over payments by companies from the mining industries to governments and government-linked entities, as well as transparency over revenues received by those host country governments. Guinea has been a member of the EITI since 2018.

WCS supports human rights consistent with the United Nations Declarations on Human Rights (UNDHR) and the Voluntary Principles on Security and Human Rights (VPSHR). Established in 2000, the VPSHR are a set of principles designed to guide companies in maintaining the safety and security of their operations within an operating framework that encourages respect for human rights.

More details are available on http://wcsglobal.com/en/

Please see the Extractive Industries Transparency Initiative Standard, 2019 @ https://eiti.org/document/eiti-standard-2019

Please see for additional information on VPSHR 2019 @ http://www.voluntaryprinciples.org/wp-content/uploads/2019/12/TheVoluntaryPrinciples.pdf