An update from Magnetite Mines Limited ( (AU:MGT) ) is now available.
Magnetite Mines Limited has lodged a Mining Lease Proposal for its Razorback Project with the South Australian Department for Energy & Mining, marking a significant milestone towards production. The project aims to produce 5 million tonnes per year of premium-grade magnetite concentrates, aligning with the growing demand for green iron production. This development positions the company as a leader in the state’s emerging green iron industry, supported by a recent Federal Green Iron Fund announcement. The proposal underscores the project’s technical and regulatory maturity and its potential to contribute to economic prosperity through sustainable mining practices.
More about Magnetite Mines Limited
Magnetite Mines Limited is an Australian company operating in the mining industry, primarily focused on the production of premium-grade magnetite concentrates. The company is strategically positioned to support the emerging green iron production industry, leveraging its resources in South Australia’s Braemar Iron Formation.
Average Trading Volume: 110,505
Technical Sentiment Signal: Buy
Current Market Cap: A$13.97M
See more data about MGT stock on TipRanks’ Stock Analysis page.