Magnetite Mines Ltd. · ASX:MGT
Magnetite Mines — Future Facing Commodities Conference 2024
22 slides from Magnetite Mines's conference presentation, Mar 26, 2024
Slide 1: Premium Iron Ore ... for steel sector decarbonisation
For personal use only Premium Iron Ore ... for steel sector decarbonisation Future Facing Commodities Conference Singapore, 26 March 2024
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: Developing Razorback: Expansive, premium-grade iron ore project in a tier 1 location
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 (ASX:MGT) Recent corporate transformation in readiness to develop project 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 $27M BAppSc (Ext.Metallurgy), GAICD, FAusIMM
Slide 5: Increasing global steel demand is a certainty
Increasing global steel demand is a certainty Steel is also critical to tackling climate change For personal use only Steel is used in all aspects of the built environment Production has doubled every 20 years since 1950 … Source: World Steel Association … and more steel is necessary for energy tran
Slide 6: Challenging steel decarbonisation targets have been set
Challenging steel decarbonisation targets have been set Steel industry now committed and making transition investment decisions For personal use only Steel industry produces 8% of global carbon emissions Major steel producer carbon reduction targets Source: Company filings 1. by 2030 compared to 201
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: EAFs are increasingly set to replace blast furnaces
EAFs are increasingly set to replace blast furnaces High-quality scrap and DRI is needed to feed them For personal use only Steel production by process route 70%+ of steelmaking Source: Wood Mackenzie Note: the AET-1.5 scenario is Wood Mackenzie's view of the pathway to limiting warming to 1.5 degre
Slide 9: 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 Razorback >68% Fe concentrates positioned in DR-grade range* High-grade iron ore demand-supply gap to increase Exported Iron Ore – Fe Grade Comparison Australian Hema
Slide 10: 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 11: 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 12: 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 1212 ~125km
Slide 13: Low risk conventional project configuration
Low risk conventional project configuration Well-proven mining practices and processing technologies For personal use only Open cut mining Magnetic separation Truck haulage to rail siding 13
Slide 14: Positive Razorback Project Optimisation Study economics
Positive Razorback Project Optimisation Study economics Results leading to larger scale production and staged expansion strategy For personal use only Staged development pathway manages risk Key project metrics4 Expansion Physical Metrics Unit Base Case Option dry Concentrate production rate 5 10 Mt
Slide 15: 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 16: Razorback Project financing approach
Razorback Project financing approach Joint venture with motivated offtakers For personal use only UNINCORPORATED JOINT VENTURE (JV) JV PARTNER 1 Joint Ventures (JV) Potential partners $ Well-proven model for big Australian iron ore projects over World-class asset has attracted RAZORBACK JV many
Slide 17: 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 Enabling future low-carbon Partnering agreement signed with Partnering Agreement with Ngadjuri Nation steel prod
Slide 18: Magnetite Mines is well positioned for success
Magnetite Mines is well positioned for success Aligned with timing and acceleration of downstream demand KEY MILESTONES NEXT STEPS For personal use only Confirmed Economics infrastructure updated MOU signed access for rail including Iron with CIMIC’s Peak and 2Bt Pacific Key land Lodge Mining Ngadju
Slide 19: 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 Partnering in progress Project set for long life needed now to enable Clos
Slide 20: References
For personal use only References 1. ASX Announcement – 09/02/23 – Iron Peak Mineral Resource Significantly Improved 2. ASX Announcement – 03/11/22 - Muster Dam Mineral Resource Estimate 3. ASX Announcement – 09/06/23 - Iron Peak Deposit Maiden Ore Reserve 4. ASX Announcement – 09/06/23 - Iron Peak S
Slide 21: Contact
For personal use only Contact gemma.brosnan@magnetitemines.com +61 8 8427 0516 www.magnetitemines.com 21
Slide 22: Appendix: Mineral Resources and Reserves
Appendix 1 Mineral Resources and Reserves1,3 For personal use only Razorback Iron Ore Project (Razorback & Iron Peak deposits combined)a Classification Tonnes (Mt) Mass Rec % Fe % SiO2 % Al2O3 % P% LOI % Magnetite % Indicated 1,675 15.95 18.36 48.02 8.06 0.18 5.46 15 Inferred 1,570 16.09 17.74 48.6
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