Magnetite Mines Enters Into Agreement With NextOre
NextOre is pleased to announce that it has entered into an agreement with Magnetite Mines Limited (ASX: MGT) to supply a mobile magnetic resonance bulk ore sensor as a trial of the technology to the Razorback High Grade Iron Ore Project.
The Razorback High Grade Iron Ore Concentrate Project is an iron ore project in the western portion of Australia’s Braemar region and is wholly owned and operated by Magnetite Mines Limited. The Project is 250 km northeast of Adelaide, South Australia, and is located central to existing infrastructure. The Project consists of three main ore bodies, Razorback being the primary deposit, capable of producing a concentrate of 68.8% Fe, followed by Iron Peak and Ironback Hill.
NextOre enthusiastically supports Magnetite Mine’s vision and approach to unlocking the vast resources in South Australia. Magnetite Mines methodology of carefully integrating mine and mill activities has the potential to generate the maximum value from bulk ore sorting solution, also likely resulting in a substantial increase in the head grade of plant feed, lower unit operating costs, and significant improvement in capital efficiency. It will also lead to environmental benefits, such as enhanced water efficiency, and reduced tailings volumes.
NextOre is thrilled that it can contribute to this transformative project and looks forward to jointly developing Australia’s reputation as a global leader in green resource extraction.
