Green Iron Magnetite Project

Lincoln’s global-scale 1.25 billion tonne Green Iron Magnetite Project is located approximately 35km north of Port Lincoln on southern Eyre Peninsula, South Australia.

The project comprises numerous prospective magnetite deposits spanning a 50km anomalous magnetic BIF trend.

With a JORC resource of 1.2 billion tonnes (Bt) of magnetite iron ore, the Green Iron Magnetite Project has demonstrated strong metallurgical recoveries and a high-quality end product.

A Scoping Study completed in 2012 contemplated a range of potential output scenarios, ultimately focusing on end product output of 5 million tonnes per annum up to 10Mtpa of magnetite concentrate.

Previously completed detailed studies considered production scenarios ranging from 3Mtpa to 10Mtpa and thoroughly examined all aspects of project development, including mining, processing, logistics, port, power, and water. These previous studies demonstrated the project’s favourable metallurgical properties, including high recoveries, high iron ore grades, and favourable grind size characteristics.

Our Green Iron Project is ideally positioned to be a key player in South Australia’s ambition to take the lead in green iron and steel production. Green iron is made in a Direct Reduction Iron (DRI) furnace using renewable energy sources.

Magnetite is recognised as the critical mineral to enable the steel industries decarbonisation. Magnetite can be processed to a high grade, DRI quality product that can feed an electric arc furnace which can be powered by gas and eventually hydrogen removing the need for coal.

South Australia is taking a lead in green iron and steel initiatives with the state government recently calling industry expressions of interest on potential partners to investigate the development of a hydrogen-based DRI plant in SA.

Lincoln Minerals can see the opportunity to capitalise on rapidly advancing local investment in new infrastructure to enable the supply chain required to produce green iron.

Lincoln Minerals looks forward to working constructively with the Eyre Peninsula community to develop this important green iron project.