[SMM Iron & Steel] Magnetite Mines Razorback Project Gains Major Project Status in Australia

Published: Apr 7, 2026 17:07

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The Australian federal government has granted "Major Project Status" to the Razorback Magnetite project in South Australia, recognizing its potential to provide high-grade iron ore feedstock for the green steel industry. This status streamlines regulatory approvals for the $2 billion project, which is designed to produce 68.5% Fe concentrate essential for hydrogen-based direct reduction ironmaking. The project is a key part of Australia's strategy to move toward higher-value mineral processing as global steelmakers seek to reduce their Scope 3 emissions through higher-purity inputs.

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