Partnership Positions Port Pirie As Green Hub
The Port Pirie Regional Council (Council) and Magnetite Mines Limited (ASX:MGT) are pleased to announce the signing of a Memorandum of Understanding (MoU) to elevate the development potential of Port Pirie as a future green iron production hub.
As the global steel industry decarbonises, new “green iron” hubs are set to emerge where high-grade iron ore, such as magnetite concentrates, co-exist with future green hydrogen production. Taking advantage of the city’s outstanding industrial capacity, the establishment of a green iron hub in Port Pirie is a natural fit for downstream processing of the abundant magnetite resources of the Braemar iron province, 160km to the East of Port Pirie, including MGT’s Razorback Iron Ore Project.
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.
The MoU provides the framework for Council and MGT to:
- Strategically engage State and Federal Government on the development potential for green iron production in Port Pirie
- Undertake preliminary planning for future green iron production in Port Pirie, including community and First Nations engagement
- Assess other partnerships and alliances that support a future green iron industry in Port Pirie, including with international steel producers and hydrogen suppliers.
In addition to green iron production, the MoU also provides a framework for cooperation on the development of supporting infrastructure for the Razorback Iron Ore Project, including potential water supply elements and port development for the bulk export of magnetite products.
The MoU was signed by Mayor Leon Stephens and MGT Chief Executive Officer Tim Dobson at a ceremony at Port Pirie earlier today.
The signing of the MoU comes in advance of the Upper Spencer Gulf Major Economic Summit event in Port Pirie on 27 February, where South Australian Premier Peter Malinauskas will outline the region’s unique opportunity to “lead the world with renewable hydrogen energy [and] green steel ... bringing thousands of new jobs and a surging economy”.
Port Pirie Regional Council Mayor Leon Stephens said:
“On behalf of Port Pirie Regional Council, I am looking forward to the partnership with Magnetite Mines and accepting this significant opportunity to become more involved in green iron/steel production.”
“Port Pirie Regional Council has been exploring options to build upon our industrial strengths to attract alternative industry in order to diversify our local economy.”
“We recognise that there are many renewable energy opportunities in the Upper Spencer Gulf Region and throughout South Australia and we are excited for the social, economic and environmental benefits our involvement will bring to our community.”
MGT Chief Executive Officer Tim Dobson said:
“Magnetite Mines is excited to be collaborating with the Port Pirie Regional Council and I thank Mayor Stephens and Council CEO Peter Ackland for their wholehearted support.”
“We see a once-in-a-generation, economy-changing opportunity for South Australia to take a leading role in global steel sector decarbonisation thanks to its expansive magnetite resources, green hydrogen and renewable energy.”
“All major international steelmakers are committed to reducing their carbon footprints, and need green iron to achieve that. It is clear to me that Port Pirie is a robust and logical location for South Australia’s second iron hub – processing and exporting Braemer iron ores for decades into the future.”
“Speaking on behalf of the MGT Board and team, we are delighted to be working with Council and the Port Pirie community as we vigorously pursue this significant green iron opportunity.”
BELOW...Port Pirie Regional Council Mayor Leon Stephens and MGT Chief Executive Officer Tim Dobson at the Memorandum of Understanding signing in Port Pirie.
