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- Today’s TSX virtual Australia Mining Investor Day Company Spotlight highlighted iron ore development, gold and lithium exploration company Macarthur Minerals (MIO)
- Macarthur has been listed on the TSX Venture Exchange since about 2003 and became dual-listed on the ASX in 2019
- MIO’s flagship The Lake Giles Iron Project contains the Ularring hematite resource of 80 million tonnes and the Moonshine magnetite potential of 710 million tonnes
- “We are also targeting production of a product that I think will attract a premium price and will be in demand in the market,” CEO Andrew Bruton says
- Shares in MIO are up 5.26 per cent to 40 cents at 1:58 pm AEDT
Today’s TSX virtual Australia Mining Investor Day Company Spotlight highlighted iron ore development, gold and lithium exploration company Macarthur Minerals (MIO).
Macarthur has been listed on the TSX Venture Exchange since about 2003 and became dual-listed on the ASX in 2019.
Macarthur is an iron ore development, gold, and lithium exploration company focused on bringing its 100 per cent owned iron ore properties in Western Australia to production.
The Lake Giles Iron Project contains the Ularring hematite resource of 80 million tonnes and the Moonshine magnetite potential of 710 million tonnes.
In addition, the company has identified various project areas in Western Australia’s Pilbara for conglomerate gold, hard rock greenstone gold, hard rock lithium, and nickel. Macarthur Minerals also holds large lithium brine placer claims in Nevada’s Railroad Valley.
With its flagship Lake Giles magnetite project in Western Australia’s Yilgarn area, Perth-based Macarthur Minerals is one of the firms set to capitalise on the focus on quality green steel.
The Ularring hematite project and the Moonshine magnetite project are both part of the larger Lake Giles project’s mineral resources.
The company also recently spun out Infinity Mining for its lithium assets, allowing the company to focus on its iron projects.
CEO Andrew Bruton told Dean McPherson, head of global mining business development for the TMX group, its Lake Giles project is sitting on 1.2 billion tonnes of high-grade mineral resource.
“It has the potential to be a multigenerational resource,” he said. “We are in a geographic location which has a strategic advantage in terms of its proximity to rail and port. We are an advanced play that is nearing the completion of a definitive feasibility study.”
“We are also targeting production of a product that I think will attract a premium price and will be in demand in the market.
“Underpinning all that, the key thing about Macarthur is the fact that the product that we are going to be targeting for production is something that will help meet global decarbonisation targets in steel manufacturing,” Mr Bruton added.
“We are looking at developing a business that is not just focused on the next 2-3 years of the commodity cycle, we are actually focussed on what we can become and what we hope to deliver for the next 50-100 years.”
Shares in MIO are up 5.26 per cent to 40 cents at 1:58 pm AEDT.
