Can Magnetite Range Deliver Cost-Effective Green Steel Feedstock Amid Market Pressures?

Metallurgical Milestone at Magnetite Range

Accent Resources NL (ASX, ACS) has delivered a significant update on its 100% owned Magnetite Range Project in Western Australia's Mid-West region. Recent metallurgical testwork, part of the ongoing Pre-Feasibility Study (PFS), has confirmed the project's ability to produce high-grade magnetite concentrates exceeding 65% iron content at a notably coarse grind size of 150 microns. This achievement is particularly noteworthy as coarser grind sizes typically translate to lower processing costs.

The Davis Tube Recovery (DTR) tests demonstrated an average mass recovery of 37.4%, with the Julia Lower Banded Iron Formation (BIF) zone reaching an impressive peak recovery of 49.4%. Furthermore, the project achieved Direct Reduced Iron (DRI) specifications of over 69% iron at a finer grind size of 75 microns, underscoring the concentrate’s suitability for premium ironmaking processes.

Innovative Processing and Cost Efficiency

Complementing these findings, dry Low Intensity Magnetic Separation (LIMS) tests successfully removed silica gangue material at coarse crush sizes, a process known as coarse cobbing. This early waste rejection reduces the volume of material requiring energy-intensive grinding downstream, potentially lowering capital expenditure and operational costs. The dry LIMS process maintained high magnetic iron recovery rates across all tested composites, reinforcing the robustness of the ore’s metallurgical characteristics.

Accent’s Executive Director Yuzi (Albert) Zhou highlighted the significance of these results, stating that they validate the economic potential of the Magnetite Range resource and align well with evolving low-carbon and green steelmaking technologies. The project’s ability to produce a high-quality concentrate compatible with these markets positions it favorably amid increasing demand for sustainable steel production.

Resource and Next Steps

The Magnetite Range Project boasts a JORC 2012 compliant Mineral Resource of 523.3 million tonnes at 31.3% iron, with ongoing geometallurgical drilling enhancing understanding of the deposit’s variability. The current phase of testwork focused on primary composites representing the major ore zones, with secondary composite testing underway to assess less dominant lithologies and potential dilution materials.

Looking ahead, Accent plans to complete larger scale wet LIMS testing and further metallurgical assessments in early 2026. These steps will refine the process flowsheet and product specifications, critical inputs for the PFS engineering study. The company’s methodical approach underscores its commitment to delivering a practical, efficient, and environmentally conscious mining operation.