Whyalla magnetite expansion project, Australia
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Name of the Project
Whyalla magnetite expansion project (MEP1).
Location
Iron Duke, about 56 km from Whyalla, in Australia.
Project Owner/s
Government of South Australia.
Project Description
MEP1 is set to secure the supply of magnetite required by integrated steelworks and manufacturer of railway lines in Australia, Whyalla Steelworks.
The project’s potential is underpinned by a world-class magnetite resource, which is critical for future ambitions to transition to green iron and steel. Once delivered, the project will facilitate magnetite production of up to 2.5-million tonnes a year, providing long-term certainty for the steelworks.
The project has an estimated 21-year mine life.
Potential Job Creation
The project will provide continuity for more than 300 jobs.
Net Present Value/Internal Rate of Return
Not stated.
Capital Expenditure
The project is supported by a $20-million loan jointly funded by the Australian and South Australian governments. The loan forms part of the $275-million funding package announced in July 2025, with costs shared equally between both governments.
Planned Start/End Date
Not stated.
Latest Developments
Geotechnical drilling for planned construction activities are under way at Iron Duke.
Key Contracts, Suppliers and Consultants
None stated.
Contact Details for Project Information
Government of South Australia, tel +61 8 8226 3500.
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