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Venture Minerals and Grange Resources in Magnetite Off-Take Deal

Venture Minerals has signed a Memorandum of Understanding (MoU) with Grange Resources for magnetite off-take from the Mt Lindsay tin and tungsten deposit in north-west Tasmania. The deal was signed on Monday.

The magnetite iron ore pellet producing Grange Resources will buy the by-product from the mine and convert 200,000 tonnes of magnetite concentrate from the Mt Lindsay project into iron ore pellets in a mutually beneficial deal.

Grange Resources’ iron ore mine called Savage River is approximately 25km away from the Mt Lindsay project. Savage River has been in production for 44 years and has a projected lifespan to 2026.

Hamish Halliday, Venture’s managing director, said that a joint development with Grange would provide synergistic benefits to both parties and allow Venture access to Grange's long-established infrastructure. He added that they were excited to have the opportunity to explore a range of development options with Grange, who have been successfully mining, manufacturing and exporting iron ore pellets from Tasmania for several decades.

Venture Mining is also in talks with potential customers for its Livingstone hematite iron ore deposit in Tasmania. It has recently announced Livingstone to be a direct shipping ore Hematite Deposit after many parties expressed interest in it.

Joel Scanlon

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Joel Scanlon

Joel relocated to Australia in 1995 from the United Kingdom and spent five years working in the mining industry as an exploration geotechnician. His role involved utilizing GIS mapping and CAD software. Upon transitioning to the North Coast of NSW, Australia, Joel embarked on a career as a graphic designer at a well-known consultancy firm. Subsequently, he established a successful web services business catering to companies across the eastern seaboard of Australia. It was during this time that he conceived and launched News-Medical.Net. Joel has been an integral part of AZoNetwork since its inception in 2000. Joel possesses a keen interest in exploring the boundaries of technology, comprehending its potential impact on society, and actively engaging with AI-driven solutions and advancements.


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