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Magnetite Mines Files Patent for Saline Water Flotation Method

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Magnetite Mines Files Patent for Saline Water Flotation Method

Magnetite Mines Limited ( (AU:MGT) ) has shared an update.

Magnetite Mines Limited has submitted a provisional patent for a saline water flotation method, which allows the production of Direct Reduction (DR) grade iron ore concentrates using saline water instead of fresh water. This innovative process could eliminate the need for large-scale desalination plants, offering significant environmental and cost benefits. The method positions Magnetite Mines as a key player in the green iron industry by providing a sustainable solution for ore processing, potentially giving the company a competitive edge in water-sensitive regions.

More about Magnetite Mines Limited

Magnetite Mines Limited operates in the mining industry, focusing on the production of high-grade magnetite iron ore concentrates. The company is involved in the development of the Razorback Project, which aims to supply Australia’s green iron industry with low-emission iron ore products.

YTD Price Performance: 12.50%

Average Trading Volume: 115,513

Technical Sentiment Signal: Buy

Current Market Cap: A$16.31M

See more insights into MGT stock on TipRanks’ Stock Analysis page.

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