Lyla Lindsey
Magnetite is an iron oxide mineral that is generally black and highly magnetic. It is found in large deposits across Australia, with the country having three producing magnetite projects in 2018. The largest magnetite mining and processing operation in Australia is Cape Preston, with more than two billion tonnes of identified magnetite resources and an expected mine life of 25 years. Australia's iron ore reserves and resources comprise both hematite and magnetite, with the latter being generally more expensive to produce due to its lower ore grade.
| Characteristics | Values |
|---|---|
| Location | Australia |
| Type of mineral | Iron oxide |
| Colour | Black |
| Properties | Highly magnetic |
| Composition | 72.4% Fe by molecular weight |
| Large deposits | Sino Iron Project in the Pilbara region of Western Australia, Savage River in Tasmania |
| Mining companies | Magnetite Mines Limited, Fortescue Metals Group, Green Iron SA, Citic Ltd |
| Mining regions | Queensland, South Australia, Northern Territory, Tasmania, Western Australia |
| Mining projects | Razorback Iron Ore Project, Muster Dam Iron Ore Project, Iron Bridge mine |
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What You'll Learn
Magnetite in South Australia
Magnetite is found in several regions across Australia, including South Australia. In South Australia, magnetite is located in the Sitting Bull area of the Arkaroola Region, which encompasses the Arkaroola Wilderness Sanctuary and Arkaroola Station.
Magnetite Mines Limited, an ASX-listed iron ore company, is focused on the development of magnetite iron ore resources in the Braemar iron region of South Australia. The company's flagship project is the Razorback High Grade Iron Ore Concentrate Project, which is located 240km northeast of Adelaide in arid, low-intensity pastoral country. The Razorback project has a mineral resource of 4.2 billion tonnes, with the potential to host ore production for over a century. It aims to produce a premium DR-grade iron ore concentrate with 68.5% iron and low levels of silica, alumina, and phosphorus. The project is well-positioned in terms of infrastructure, with easy access to rail, renewable energy sources, and nearby ports.
The development of magnetite resources in South Australia is seen as a strategy to establish a green iron industry and address the decline in fossil fuel and low-grade iron ore exports. Green Iron SA, a consortium that includes Magnetite Mines, has been launched to support this initiative. The consortium aims to develop a green iron export industry and improve the balance of trade in Australia.
The Managing Director of Magnetite Mines, Tim Dobson, brings extensive experience in the mining industry to the company. He has worked on complex projects involving various base and precious metals around the world, including in Papua New Guinea, Chile, and Madagascar. Sustainability and decarbonisation are key focuses of the company's approach to developing the Razorback project.
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Magnetite in Queensland
Magnetite is found in several locations across Queensland, Australia. One notable site is the Mary Kathleen Mine in the Mary Kathleen district, Rosebud Station, Cloncurry Shire. This mine is located in the remote outback region of Queensland and is known for its rich mineral deposits, including magnetite. The mine has been a significant source of economic activity in the region and has contributed to the development of the local community.
Another important source of magnetite in Queensland is the Biggenden Mine, located at Mount Biggenden in the North Burnett Region. This mine is situated in the picturesque North Burnett area, known for its diverse landscape and natural beauty. The region boasts lush rainforests, rolling hills, and expansive agricultural lands, with the mine nestled within this vibrant natural environment.
The discovery of magnetite in Queensland has played a crucial role in the state's mining industry and economic growth. Magnetite is a valuable mineral with a wide range of industrial applications, including the production of iron and steel. The presence of magnetite mines in Queensland has attracted investment and created job opportunities for locals, contributing to the state's thriving resources sector.
In addition to these prominent sites, magnetite can also be found in smaller deposits across Queensland. The state is known for its diverse geology, and ongoing exploration efforts continue to uncover new sources of minerals, including magnetite. These discoveries highlight the potential for further development and the importance of sustainable mining practices to balance economic growth with environmental preservation.
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Magnetite in the Northern Territory
Magnetite is found in the Northern Territory of Australia. One source states that it can be found in the Mud Tank Zircon Field, Alcoota Station, Central Desert Region, Northern Territory. Another source mentions that magnetite can be found in the Juno Mine, Tennant Creek, Barkly Region, Northern Territory.
Northern Iron's Warrego rehabilitation project in the Northern Territory dispatched its first magnetite shipment to Asia in January 2025. The project is located 50km northwest of Tennant Creek and produces magnetite concentrate from low-grade iron ore. The inaugural shipment of 47,100 tonnes of magnetite concentrate was railed from Tennant Creek to Darwin Port. The Warrego rehabilitation project is beneficial as it creates jobs, addresses legacy mine issues, and produces valuable resources. The project is also environmentally friendly, as it only uses water available at the Warrego mine site, making it more water-efficient than other practices.
The Warrego project has an estimated mine life of 3.5 years and is expected to produce up to 1.2 million wet tonnes of magnetite concentrate per year. Approximately 70 local jobs are expected to be created, and the modular design of the processing plant allows for relocation and reuse, driving further economic activity and reducing environmental liabilities.
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Magnetite in Western Australia
Magnetite is an iron oxide mineral that is generally black and highly magnetic. In 2018, Australia had three producing magnetite projects: the Sino Iron Project in the Pilbara region of Western Australia, the Karara project, and Savage River in Tasmania. The Sino Iron Project produced and shipped more than 19 million wet metric tonnes of magnetite concentrate in 2018, while the Karara project reported production of 7.8 million dry metric tonnes of magnetite concentrate for the 2017-18 financial year. The Savage River operation successfully delivered 2.37 million tonnes of magnetite pellets in 2018, a 25% increase from the previous year.
Western Australia dominates the iron ore industry in Australia, with 92% of the country's EDR of iron ore occurring in the state. The vast majority of Australia's iron ore exports are high-grade hematite, 96% of which has been mined from deposits in the Hamersley province of Western Australia. The Brockman Iron Formation in this province is the most significant host for high-grade hematite iron ore deposits.
Magnetite mines in South Australia, such as the Razorback Iron Ore Project located 240 kilometres northeast of Adelaide, are also important contributors to Australia's magnetite industry. This project is expected to produce a premium DR-grade iron ore concentrate at 68.5% iron with low deleterious elements, making it a critical new supply for decarbonised steelmaking. The development of a green iron export industry in Australia is seen as a remedy for declining living standards as the country faces shrinking fossil fuel and low-grade iron ore exports.
In addition to Western Australia and South Australia, magnetite deposits have been found in Queensland, the Northern Territory, and Tasmania. These include the Biggenden Mine in Queensland, the Mud Tank Zircon Field in the Northern Territory, and the Kara No. 1 Pit in Tasmania. Overall, magnetite plays a significant role in Australia's iron ore industry and is expected to become even more important in the future.
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Magnetite in Tasmania
Magnetite is found in several locations in Australia, including Tasmania. In Tasmania, magnetite is primarily sourced from the Kara Mine site in the Hampshire mining district of Burnie City. The Kara mine has been operational since 1978 and has resources exceeding 20 million tonnes. The mine is located 35 kilometres south of the Port of Burnie in North West Tasmania.
The magnetite products from the Kara Mine are sold to both export customers and local customers within Australia through Tasmania Mines Pty Ltd and Kara Magnetite Pty Ltd, respectively. The planned mine life is over 25 years, thanks to its current processing facility and overburden and tailings storage capabilities.
Additionally, the Razorback Iron Ore Project, located 240 kilometres northeast of Adelaide in South Australia, is another significant source of magnetite in Australia. This project is expected to produce high-grade iron ore concentrate with a low level of deleterious elements, making it attractive to steelmakers. The company developing the Razorback project, Magnetite Mines Limited, is focused on establishing a green iron industry in South Australia.
Overall, the presence of magnetite mines in Tasmania and other parts of Australia contributes to the country's mineral resources and plays a role in meeting the global demand for iron ore products.
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Frequently asked questions
Magnetite is found in various locations across Australia, including Queensland, South Australia, Tasmania, and the Northern Territory.
Some specific mines in Australia that contain magnetite are the Biggenden Mine in Queensland, the Mud Tank Zircon Field in the Northern Territory, and the Kara No. 1 Pit in Tasmania.
The largest magnetite mine in Australia is the Sino Iron Project, also known as the Cape Preston mine, located in the Pilbara region of Western Australia.
Magnetite is an important mineral in Australia due to its high iron content, which is valuable for the steel industry. It is also used in the production of low-emissions steel and is seen as crucial for the industry's transition to more sustainable practices.
Fortescue Metals Group (FMG) is a notable company in the magnetite mining industry in Australia, with its Iron Bridge mine having an annual capacity of 22 million tonnes of high-quality magnetite iron ore. Magnetite Mines Limited is another company focused on developing magnetite iron ore resources in South Australia.
