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Magnetite ore has lower iron content than hematite ore and must be upgraded to make it suitable for steelmaking.
The magnetic properties of magnetite enable it to be readily refined into an iron ore concentrate, which is globally accepted as a viable and high-quality feedstock for the production of premium quality, low impurity steel.
The processing route for magnetite requires crushing, screening, grinding, magnetic separation, filtering and drying. The final product is a high iron grade magnetite concentrate (+65% Fe), with typically very low impurities.
Further processing involves the agglomeration and thermal treatment of the concentrate to produce pellets, which can be used directly in a blast furnace or direct reduction steelmaking plant.
The additional processing cost for the production of magnetite concentrate can be offset by the premium price which it attracts from steel mills, because of the high iron content compared to benchmark DSO hematite products.
The following table outlines quarterly production figures:
|Karara Magnetite Unit '000 WMT|
|Quarter (Qtr)||Mar-15 Qtr||June-15 Qtr||Sep-15 Qtr|