Mayor Leon Stephens and Magnetite Mines CEO Tim Dobson signed memorandum of understanding on Tuesday.
As the global steel industry moves to decarbonise, iron-ore miner Magnetite Mines has partnered with Port Pirie to position the South Australian port as a future green iron production hub.
Green iron hubs typically incorporate the use of high-grade iron-ore, such as magnetite concentrates, which enhance efficiency of the iron-ore-making process, and green hydrogen production.
Establishing such a hub in Port Pirie, which has outstanding industrial capacity, will be a natural fit for the downstream processing of the magnetite resources of the Braemar iron province, including Magnetite Mines’ Razorback iron-ore project, according to a joint media release.
Mayor Leon Stephens and Magnetite Mines CEO Tim Dobson signed a memorandum of understanding (MoU) on Tuesday.
The MoU between the Port Pirie Regional Council and Magnetite Mines establishes a framework to engage state and federal government on the development potential for green iron production in Port Pirie, undertake preliminary planning for future green iron production and assess other partnerships and alliances, including with international steel producers and hydrogen suppliers.
“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,” commented Dobson.
“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.”