A scoping study into the Razorack iron project, in South Australia, has confirmed ASX-listed Magnetite Mines’ view that the project could be economical, prompting the company to seek funding to progress to a prefeasibility study.
The scoping study showed that a small-scale, staged operation producing high-grade concentrate from a lower cost initial operation would be the preferred option, with the established transport-related infrastructure the preferred approach to delivering the high-grade iron product to market.