Central Eyre Iron Project

The project will develop a 4,510 Mt magnetite mineral resource on the Eyre Peninsula by open cut mining methods. Production is planned to be 12 Mtpa of high grade (66.7% Fe) premium iron concentrate over a period exceeding 22 years. The concentrate will be transported to a deep water port located at Cape Hardy for export using Capesize vessels. The total capital requirement for the project is US$1.74B, with a total operating cost of US$44.50/wmt.

Investment opportunity

Capital investment

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Investor information


Project status update

Mining Lease (mine site) and Development Approval (Infrastructure) granted 3 May 2017. All other approvals in place.

Project dependencies


Technology utilised

Mining technology will be a combination of proven truck and excavator methods, combined with in-pit crushing and conveying. An innovative approach to primary crushing will involve the use of sizers. A unique approach to processing the ore will deliver a clean, coarse-grained product, ideal for the sintering process used in iron making.

Financial information

Investment sought: A$2.5B

Project highlights

  • Largest magnetite ore reserve in Australia (and one of the largest undeveloped magnetite mineral resources globally).
  • Relatively low capital and operating requirements.
  • Sought after, very marketable high grade, low impurity premium product.

Key organisations

  • Iron Road Limited

Project timelines

Expected start date

Expected end date

Funding round finish date


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