Australian Magnetite Mines, a development-stage company advancing the Razorback High-Grade Iron Ore Concentrate Project located in the Braemar, planned to increase the production scale at Razorback from 2.2 million tons to 5 million tons to respond to increasing market demand for premium iron ore products.

Magnetite Mines is investigating higher-grade iron ore products, including high-value Direct Reduction (DR) grade concentrates. It will be expected to enhance project economics from economies of scale and widening premiums for high-grade and DR-grade products.