Highlights
-- Magnetite Mines has submitted a formal application to ElectraNet for a proposed 132kV transmission line to be built from Robertstown to the Razorback Iron Ore Project (Razorback) site.
-- The transmission line is designed to carry a load of approximately 40MW for the proposed 2.5–3mtpa stage 1 plant and mining operation to be built at Razorback.
-- It allows the Razorback Iron Ore Project to connect to the National Electricity Market and obtain the benefits of competitively priced, reliable grid electricity with a high renewable content.
-- Magnetite Mines remains on track for a decision to mine in late 2022, targeting first exports of iron ore in late 2024 or early 2025.
-- With an estimated 70% renewable power supply available today, the renewables intensity of the South Australian grid is forecast to be close to 100% when the Razorback iron ore mine commences production.
Magnetite Mines Limited (ASX:MGT) (Magnetite Mines or the Company) is pleased to announce that on 2nd November 2021 it submitted a Connection Enquiry Form to ElectraNet for a proposed 132kV transmission line to be built from Robertstown to the Razorback site, a distance of approximately 130km.
The transmission line is designed to carry a load of approximately 40MW, the power requirements for the proposed 2.5–3mtpa plant and mining operation to be built at Razorback. It will allow Razorback to connect to the NEM and obtain the benefits of high renewable content (currently ~70%), reliable energy supply and competitive electricity pricing.
The information provided through this connection enquiry form will allow ElectraNet to prepare an estimated scope and fee proposal for the work required to investigate the application to connect and prepare the offer to connect in accordance with the National Electricity Rules (NER).
For more information, download the attached PDF.
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