Magnetite Mines Ltd. · ASX:MGT

Magnetite Mines — Austmine CEO Leadership Luncheon (February 2024)

17 slides from Magnetite Mines's conference presentation, Feb 21, 2024

  1. Slide 1: South Australia's Green Iron Opportunity

    For personal use only Austmine CEO Leadership Luncheon Stamford Plaza, Adelaide February 21, 2024 South Australia’s For a new Green Iron industry (expires …)

  2. 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

  3. Slide 3: How to make Australia an economic superpower

    How to make Australia an economic superpower Embodied Renewable Energy For personal use only “Green hydrogen and ammonia will be important, but exports of goods embodying these are the main story.” “The processing of minerals will be the most important, with iron a long way in front.” “SA leads the

  4. Slide 4: 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

  5. Slide 5: How big is the iron & steel industry?

    How big is the iron & steel industry? Answer: GIANT – steel dwarfs all other metals For personal use only CRUDESTEELPRODUCTION Global metals mined in 2021 1,962,000 tonnes 5

  6. 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

  7. Slide 7: The transition away from coal has commenced

    The transition away from coal has commenced High-grade, low-impurity iron ore needed 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 Current: <65%

  8. 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

  9. Slide 9: Currently only ~6% of iron ore produced is DR-grade

    Currently only ~6% of iron ore produced is “DR-grade” New premium-grade iron ore supply is critical to the transition For personal use only MGT’s Razorback Project in South Australia can produce DR-grade concentrates* High-grade iron ore demand-supply gap to increase Exported Iron Ore – Fe Grade Com

  10. Slide 10: Green hydrogen export & storage is inefficient and costly

    Green hydrogen export & storage is inefficient and costly Alternative: Green Iron export is an efficient proxy for hydrogen export For personal use only Transporting hydrogen is expensive, hazardous, inefficient and technically challenging Low-cost H2 producing country Steelmaking country Iron ore S

  11. Slide 11: The South Australia advantage

    The South Australia advantage SA can lead Australia 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

  12. Slide 12: South Australia could host green iron hubs

    South Australia could host 3 green iron hubs Port Pirie ideally placed to service the massive Braemar iron province For personal use only An economic game-changer for the regions, state and country Razorback Project Logical first mover in Braemar Significant economic benefits BDO: Economic benefits

  13. Slide 13: Developing new magnetite production is key

    Developing new magnetite production is key MGT’s Razorback Project is located in SA’s undeveloped Braemar Iron Formation 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 ores  Concentr

  14. Slide 14: There's nothing complex about magnetite production

    There’s nothing complex about magnetite production Low risk, well-proven mining practices and processing technologies For personal use only Open cut mining Magnetic separation Truck haulage to rail siding 14

  15. Slide 15: South Australia's Green Iron Opportunity

    South Australia’s Green Iron Opportunity For personal use only Decarbonisation SA has the right … and competition Razorback set to open tailwind ingredients … the Braemar  Green iron will be made in  Tier 1 mining location  Global capital is being  First step is to open up new countries with low

  16. Slide 16: References

    For personal use only References 1. ASX Announcement – 22/03/23 - Razorback Iron Project Ore Reserves Increase 340% - Update 2. ASX Announcement – 09/06/23 - Iron Peak Deposit Maiden Ore Reserve 3. ASX Announcement – 22/11/22 - Muster Dam Mineral Resource Estimate 16

  17. Slide 17: Contact

    For personal use only Contact gemma.brosnan@magnetitemines.com +61 8 8427 0516 www.magnetitemines.com

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