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01:06:19 EDT Mon 23 Mar 2026
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Magnetite Mines Ltd (RRSXF) GREEN IRON SA Advances Port Pirie Iron Ore Export Concept

2026-03-22 21:56 ET - News Release

Adelaide, Australia, Mar 23, 2026 - (ABN Newswire) - Magnetite Mines Ltd (ASX:MGT) (FRA:R8Q1) (OTCMKTS:RRSXF) issues joint release with GREEN IRON SA as it advances the Port Pirie Iron Ore Export Concept.

HIGHLIGHTS:

- Port Pirie export pathway clarified: A high-level engineering assessment of Port Pirie's existing infrastructure and logistics options by Green Iron SA has outlined a potential iron ore export configuration from train arrival through to ship loading at Flinders Ports' Berth 7.

- Leverages existing infrastructure: The concept intentionally makes best use of existing industrial land, port precinct infrastructure and transport corridors, consistent with the consortium's objective of enabling iron ore concentrate export as a precursor to downstream pellet and/or green iron production.

- Designed to limit community impacts: The proposed configuration prioritises measures to reduce dust and noise impacts, and to minimise vehicle-rail interface impacts, including transport corridor selection, covered storage and a sealed conveyor system.

- Consortium alignment: All Green Iron SA consortium members support the continued advancement of the Port Pirie export concept, subject to further technical and economic modelling, approvals and stakeholder engagement.
*Please refer to the Joint Media Release for further details.
https://abnnewswire.net/lnk/M03A1L7D


About Magnetite Mines Ltd:

Magnetite Mines Limited (ASX:MGT) holds a 100%-owned Mineral Resource of 6.6 billion tonnes and is advancing its flagship Razorback Iron Ore Project, located approximately 240 kilometres northeast of Adelaide. Razorback is one of the few undeveloped magnetite projects globally capable of producing premium Direct Reduction (DR) grade concentrate at scale — a key feedstock for green iron and lower-emissions steelmaking — positioning the Company to benefit from growing demand for high-purity iron ore products. The Project recently received Major Project Status from the Australian Government and is currently the only iron ore project in Australia to hold this designation. Magnetite Mines also holds an extensive South Australian tenement portfolio prospective for rare earth elements, copper, silver and gold, providing disciplined exposure to critical minerals aligned with global electrification and decarbonisation trends.

Source:
Magnetite Mines Ltd

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