Slide 1: Premium Iron Ore for steel sector decarbonisation
For personal use only Premium Iron Ore For steel sector decarbonisation IMARC, Sydney, October 2023
Slide 2: Disclaimer
Disclaimer For personal use only IMPORTANT NOTICE ADDITIONAL INFORMATION The purpose of this presentation is to provide general information about This presentation should be read in conjunction with MGT’s Annual Report at 30 Magnetite Mines Limited ("MGT"). It is not recommended that any person make
Slide 3: Magnetite Mines (ASX:MGT)
Magnetite Mines (ASX:MGT) Developing Razorback: Expansive, premium-grade iron ore project in a tier 1 location For personal use only The Company The Opportunity Focused on 100% Rare, premium-grade Steelmakers are Supportive SA Substantial owned Razorback Magnetite iron ore looking now government re-
Slide 4: Corporate overview
Corporate overview Strengthened Board and Management with development in sights For personal use only Board Management Market Cap Jim McKerlie Chair of the Board Tim Dobson Chief Executive Officer BA Economics (Hons), Dip Fin Mgt, FCA, FAICD $24M BAppSc (Ext.Metallurgy), GAICD, MAusIMM Internation
Slide 5: Increasing global steel demand is a certainty
Increasing global steel demand is a certainty Steel is critical to tackling climate change – Razorback is a supply chain critical link For personal use only Production has doubled every 20 years since 1950 … … and more steel is necessary for energy transition Producing 8% of Steel (Mt) required for
Slide 6: Challenging decarbonisation targets have been set
Challenging decarbonisation targets have been set Industry is now committed and seeking new high grade ore supply For personal use only Direct emissions intensity of steel production Major steel producer carbon reduction targets ‘Steel Breakthrough Agenda’ COP27 (2022) Consistent international sta
Slide 7: The transition away from coal has commenced
The transition away from coal has commenced Razorback to supply high-grade, low-impurity iron ore for replacement technologies For personal use only Coal-using blast furnaces to be replaced over next 5 – 25 years Iron ore grade required Feed Iron Reduction Melting Carbon emissions (t CO2/t) Inputs C
Slide 8: New premium-grade iron ore supply critical to transition
New premium-grade iron ore supply critical to transition Razorback Project positioned to meet urgent new demand For personal use only High-grade iron ore demand-supply gap to increase Razorback >68% Fe concentrates positioned in DR-grade range* Exported Iron Ore – Fe Grade Comparison 69 Australian H
Slide 9: The South Australia advantage
The South Australia advantage SA is leading the way to a future green iron economy For personal use only Attracting international investment Value adding Australia’s opportunity can be realised through collaboration and investment in green iron hubs Magnetite + Renewable Energy + Green Hydrogen Tie
Slide 10: Razorback: Expansive, soft, outcropping iron ore
Razorback: Expansive, soft, outcropping iron ore South Australia’s Braemar Iron Formation – a globally significant magnetite province For personal use only The Braemar advantage Outcropping ore: very low strip ratio Iron Peak Siltstone-hosted iron ore, not BIF* Soft relative to WA magnetite or
Slide 11: Outstanding project location in the undeveloped Braemar
Outstanding project location in the undeveloped Braemar Close to potential future green iron hubs at Whyalla & Port Pirie For personal use only Adelaide 240km Open-access rail ~50km Whyalla Port 315km Port Pirie 180km Grid Power 100% renewable by 2030 1111 ~125km
Slide 12: Razorback Project economics globally-competitive
Razorback Project economics globally-competitive Highly-competitive cost base on a standardised basis For personal use only Wood Mackenzie 2027 VIU-adjusted (62% Fe eq.) cost curve (US$/t)a,b 1st quartile 2nd quartile 300 250 US$/t (real 2023$) 200 150 10Mtpa 5Mtpa 100 50 - 0% 5% 100% 10% 15% 20% 25
Slide 13: MGT's bespoke sustainability platform
MGT’s bespoke sustainability platform Elevating future ESG outcomes through early action and commitment For personal use only Environmental sustainability Social & community inclusion Cultural heritage survey with Ngadjuri team Enabling future low carbon Partnering agreement in development steel
Slide 14: Magnetite Mines well positioned for success
Magnetite Mines well positioned for success Aligned with timing and acceleration of downstream demand KEY MILESTONES NEXT STEPS For personal use only Confirmed Economics infrastructure updated access for rail including Iron Ngadjuri and power Peak and 2 Bt partnering Key land Bulk agreement Lodge su
Slide 15: The opportunity is now
Magnetite Mines The opportunity is now For personal use only Decarbonisation Outstanding Project Progressing to Substantial re-rating Tailwind Credentials Development potential Premium-grade iron ore Tier 1 location Partner interest increasing Project set for long life needed now to enable
Slide 16: References
For personal use only References 1. ASX Announcement – 09/02/23 – Iron Peak Resource Significantly Improved 2. ASX Announcement – 22/11/22 - Muster Dam Mineral Resource Estimate 3. ASX Announcement – 22/03/23 - Razorback Iron Project Ore Reserves Increase 340% - Update 4. ASX Announcement – 09/06/23
Slide 17: Contact
For personal use only Contact gemma.brosnan@magnetitemines.com +61 8 8427 0516 www.magnetitemines.com 17