Lincoln Minerals has submitted a proposal for its Green Iron (magnetite) Project as part of the South Australian Government’s Green Iron and Steel strategy expression of interest (EOI) process.
The proposal outlines the company’s aim to develop an end-to-end domestic green iron and steel supply chain, including constructing a government-endorsed 2.5 million tonne per annum (Mpta) green steel plant.
The project is located near the deep-water port of Port Lincoln and existing power infrastructure.
Lincoln said it considers the project a premier, undeveloped magnetite project for South Australia, with ideal attributes to feed South Australia’s Green Iron and Steel strategy.
Demand for green steel and related raw materials, including magnetite, is expected to grow in response to carbon reduction efforts within the steel industry supply chain. Lincoln’s Green Iron Project can serve domestic and global demand requirements of green steel supply chain participants.
Lincoln’s CEO, Jonathon Trewartha, said, “Lincoln’s Green Iron Project is underpinned by our magnetite project, which we understand is the best potential magnetite supply source for the South Australian Government’s proposed domestic Green Iron and Steel supply chain.
“Based upon a review of current data, the project has an aspirational goal of producing 6Mtpa of high-quality magnetite concentrate to supply both a domestic supply chain as well as potential for export tonnes to the global green steel industry.
“We are also commencing the next phase of our green iron partnering process, where we are seeking to engage with both domestic and global steel industry participants who seek to partner with Lincoln to develop this project.”
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