Magnetite Mines secures exclusive negotiating rights for Razorback water supply

–News Direct–

Magnetite Mines Ltd (ASX:MGT) CEO Tim Dobson tells Proactive the company has recently made a proposal to the South Australian Government to access a discarded Murray Basin wastewater source for use in magnetite processing at its flagship Razorback Iron Ore project. He says they have now received approval for a 6-month exclusive negotiation period for the proposal. The wastewater source is one of two water supply options with the potential to supply the planned 5 million tonnes per annum operations at Razorback.

Dobson said: This approval by the SA Government Cabinet to advance our proposal to access this wastewater source, with exclusive negotiating rights, is extremely encouraging and represents the first material support by the SA Government for Razorback ahead of the planned submission of our mining lease proposal in the new year.

Being acutely aware of the arid environment in which we will operate, we take our water stewardship obligations seriously.

Beneficially using wastewater from Murray Basin salt interception schemes would contribute to a circular economy and is fully aligned with the intent and spirit of our leading foresight sustainability platform.

Contact Details

Proactive Investors

Jonathan Jackson

+61 413 713 744

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