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Magnetite Makes a Comeback Under Magnate

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Magnetite Makes a Comeback Under Magnate Australian 10/03/2008 Page: 33 Business News Region: National Circulation: 133000 Type: National Size: 219.06 sq.cms MTWTF Magnetite makesacomeback under magnate Nigel Wilson Hematite is usually associated amount of en-below 65 per cent. Just as impor- Energy writer with alumina. ergy they use fortant is the capability of producing This means that a lot of energy both cost and en-magnetite pellets with less than 5 IAN Burston is a West Australian needs to be employed by steel vironmental rea-per cent silica content. legend, a man synonymous with mills in the sintering process that sons. There are a number of magne- the development of the iron oreremoves impurities such as alu- This makes tite hopefuls in WA, particularly industry in WA. mina. pelletising in in the Murchison region east of Now executive chairman of Magnetite host rocks do not Australia for nat- Geraldton, but Burston argues Cape Lambert Iron Ore, he has containalumina,butcontain Burston ural gas that the Cape Lambert project held many executive manage- silica. rather than thelocated 5km from the Pilbara ment posts in the mining sector Because it has a lower iron oil fuel used in the 1970s and 80s coast, 10km from Rio Tinto's since being Hamersley Iron's content than hematite, magnetite a far more viable proposition. Cape Lambert iron ore port with managing director in the 1970s. has been regardedasaless "`What we are doing is takingdirect connection to nearby infra- There he oversaw the develop- attractive proposition. the energycostof removingstructure and the townships of ment of the mining of hematite In the 1980s, the iron ore alumina from hematite from the Karratha, Roebourne and Wick- first as lump ore then as fines, industry was characterised by steel producers and giving them a ham, make it a shoo-in. which was the foundation of the clangingof gatesclosing on high iron content product which massive expansion of the Pilbara requires them to use less energy While comparative prices are uneconomic pellet plants. not available no supplying iron ore industry. "Every operator in the Pilbara to process into steel," Burston At Cape Lambert Burston is had a pellet plant but by around says. countrytothe world'ssteel industry markets both hematite coming fullcircle, away from 1985they'dclosed,"Burston "For them it is highly attrac- hematite and back to magnetite. says. tive." and magnetite Burston be- He says his latest project does They used a lot of energy to He makes another point: qual-lieves the energy cost equation is not represent turning back theproduce pellets, a product that ity control on many older pellet sufficiently well understood, par- clockto magnetite but goingbeneficiated or improved the iron plants was not the best, meaning ticularlyinChina,thatthe forward by recognising its market content and reduced the impuri- that the iron content could vary,slightly lower iron content of advantagesinan increasinglyties, but at huge cost. posing problems for steel millmagnetite pellets compared with carbon constrained world. The Arab oil embargo of the operators. hematite fines is not an issue. Hematite is the most common late 1970s sent crude oil prices As a result, magnetite demand Cape Lambert Iron Oreis iron ore and has a high iron soaring on an inflation ad- also fell and high FE contentworking up a bankable feasibility content, which gives it its signa-justed basis even higher than hematite stole a march. study with its project expected to ture reddish brown colour. today and pelletising went out What has changed now is thebe in production late next year, Magnetite has a lower iron of fashion, similar to steam cars capability of producing pelletsdelivering up to 15 million tonnes content and is usually blackish in and lace-up boots. consistently with an iron contentof iron ore concentrate a year colour. But it is not the colour Now, of course, the energyof more than 62 per cent whenover a project life of more than 20 that makes the difference, it is the equation is different. Steel pro- the average iron content of he- years. associated minerals. ducerswanttoreducethe nmatite fines is declining slowly That will be legendary stuff. Ref: 34561331 Copyright Agency Limited (CAL) licensed copy.
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