First magnetite ore export a milestone

The iron ore miner Karara says its first commercial shipment of magnetite concentrate is a milestone for the Mid West mining industry.

At present the vast majority of the Australian iron ore industry has been based around the export of hematite ores.

Magnetite ore has a lower iron content and is suitable for processing into iron ore pellets for steel production.

After months of stockpiling, about 57,000 tonnes of the iron ore has been dispatched from Geraldton Port bound for China.

The Karara Iron Ore mine is a joint venture between Perth's Gindalbie Metals and the Chinese steel maker Ansteel.

Gindalbie's Michael Weir says it is a significant milestone for the company and the state.

"It's also hugely significant for the entire Mid West region and indeed even Western Australia, that for the first time that we are aware of, we're now producing magnetite concentrate," he said.

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    0.9332+0.0005+0.05%
    AUDUSD=X
    0.5562+0.0009+0.16%
    AUDGBP=X
    0.67520.000.00%
    AUDEUR=X
  • Commodities
    Commodities
    NamePriceChange% Chg