Building a new industry
CITIC Pacific Mining is spearheading the growth of a new industry in Australia through the large scale mining of magnetite iron ore.
Our project is making it possible to produce steel from resources in Australia that have been considered low value until now.
As opposed to hematite iron ore that is traditionally mined in Western Australia, the project mines magnetite iron ore. Magnetite requires beneficiation before it can be exported for use in the steel making process and is a desirable and high quality product for steel mills.
Quick Facts – Magnetite vs Hematite
- Downstream processing of ore required to extract value, involving crushing, screening, grinding, magnetic separation and filtering.
- Magnetite concentrate has higher iron grade of around 65%Fe. Magnetite concentrate is an ideal feedstock for the production of pellets which are a sough-after material for steel production. In addition, less energy is used in pellet making, delivering better environmental outcomes.
- No processing required as crushed ore is exported.
- High-grade hematite is often referred to as “Direct Shipping Ore” or “DSO”.
- Ore gets crushed an screened to ensure appropriate size for exporting.