Magnetite Mines says it’s produced ‘green iron’ concentrates using seawater

Magnetite Mines (ASX:MGT) has announced it’s produced green iron grade concentrates using saline water.

Using ore from the company’s Razorback iron ore play, the company describes its mission as one to produce “rare premium-grade concentrates suitable for ‘green iron’ production.”

Noting the existence of studies looking at fresh and desalinated water, Magnetite stated on Monday it has its hands on lab results that show its green iron feed grade magnetite concentrates can be made using seawater.

Concentrate grades clocked 69.9% iron and less than 2% silica and alumina which the company called “similar to test results using fresh water.”

“The team at Magnetite Mines has made exciting progress in its metallurgical evaluation of saline water processing, consistently achieving DR-grade in our most recent testwork,” MGT CEO Tim Dobson said.

“This pioneering technical innovation creates optionality for MGT in providing the best water solution for the Razorback Project and is a powerful differentiator.

“With a technical solution now defined, we will move to evaluate other considerations for saline water processing including permitting and supply options.”

MGT last traded at 30cps.