Magnetite Mines Limited has initiated a new scoping study for the Razorback Iron Ore Project in South Australia, replacing previous infrastructure plans with a configuration centered on saline water processing and a dedicated rail connection.

The updated study removes the coastal desalination plant and associated water pipeline contemplated in previous evaluations, replacing them with a saline water supply for conventional processing. The revised development plan also incorporates a 55km rail spur to connect the Razorback operation to the main rail line and prioritizes higher-grade mining areas during the initial years of production.

“The study work is being done to scoping study level incorporating substantial changes aimed at simplifying the Project development plan. While there are material changes designed to improve economic potential, some key elements of the previous studies have been retained.”

— Scott Lowe, Executive Chair

Magnetite Mines acquired the Razorback tenements in 2009 and has since defined a combined mineral resource estimate of 3.8 billion tonnes, which includes 2.0 billion tonnes in probable ore reserves.

To advance the project toward formal feasibility documentation, the company plans to conduct additional resource drilling aimed at converting inferred resources to indicated categories. Magnetite Mines expects to provide an update on the new scoping study outcomes, including forward-looking production and financial information, by the end of 2027, subject to securing additional funding and completing the planned drilling program.

The company is also engaging with the South Australian Department of Energy and Mining regarding its mining lease application to reflect the updated development layout.

Read the full announcement: New Razorback Project Scoping Study and Funding Options