Macro Metals Limited has advanced its strategic position by securing export access at Utah Point and acquiring a 27.3% stake in the Extension Iron Ore project, setting the stage for growth in FY26.
- Utah Point export access secured for up to 4Mtpa iron ore
- Acquisition of 27.3% equity in Project Rusty, owner of Extension Iron Ore
- Advancement of approvals and development planning for Extension Iron Ore project
- Board strengthened with appointment of Executive Director Nathan Douglas
- Continued progress across mining services, rehabilitation, and gold mining joint venture
Strategic Export Access and Equity Acquisition
Macro Metals Limited (ASX – M4M) has marked a significant milestone in its development trajectory by securing written confirmation from Pilbara Ports for export access at Port Hedland’s Utah Point Bulk Handling Facility. This access allows the company to export up to 4 million tonnes per annum of iron ore from its Extension Iron Ore project starting in the fourth quarter of calendar year 2026. This development not only de-risks the project’s execution phase but also opens direct pathways to international markets, a critical factor for future revenue generation.
Complementing this logistical achievement, Macro Metals completed the acquisition of a 27.3% equity interest in Project Rusty Pty Ltd, the entity owning the Extension Iron Ore project. This strategic move provides shareholders with direct exposure to the profits from iron ore sales, diversifying value beyond the company’s mining services revenue stream.
Advancing Project Approvals and Operational Readiness
During the December quarter, Macro’s technical services team confirmed the approvals pathway for a 2 to 4 million tonnes per annum direct shipping ore operation at Extension Iron. This progress supports the company’s readiness for construction targeted in late 2026. The approved extraction of a 200,000-tonne bulk sample remains a near-term opportunity to optimise cash flow and validate market acceptance of the ore product.
Governance and project leadership have been bolstered with the appointment of Nathan Douglas as Executive Director. Bringing over 30 years of experience, Douglas is tasked with accelerating key initiatives including the Extension Iron project and other growth opportunities. Additionally, the appointment of Bradley Toms as Exploration Manager signals a focused effort on resource definition and technical analysis to underpin future development.
Expanding Mining Services and Indigenous Engagement
Macro Mining Services (MMS), the company’s wholly owned subsidiary, continued to build a robust pipeline of opportunities through tendering and technical engagement with Tier-1 and Tier-2 mining companies. The December quarter saw the completion of short-duration contracts and maintenance work, with invitations to tender for more substantive scopes of work, reflecting growing client confidence.
Macro’s commitment to Indigenous participation remains a cornerstone of its operational model. Majority Indigenous-owned businesses within the group advanced rehabilitation capabilities and secured initial contract wins, demonstrating the tangible benefits of embedding cultural values and community engagement in mining operations.
Diversification into Construction Sands and Gold Mining Services
Beyond iron ore, Macro is progressing the Derby East Construction Sands project, with ongoing resource definition, approvals planning, and logistics studies aimed at establishing a sustainable supply chain for international markets. The company is also advancing its Macro Gold Mining Services joint venture, which offers a profit-sharing model to reduce upfront capital for gold project owners while providing Macro with operational upside.
Financial Position and Outlook
Financially, Macro reported net cash outflows of $899,000 for the quarter, with cash reserves of $1.963 million at the end of December 2025. The company received final subscription proceeds from strategic placements, reinforcing its funding position. Looking ahead, Macro is focused on disciplined execution, capital efficiency, and converting its expanded opportunity pipeline into operational outcomes while maintaining a strong emphasis on safety, governance, and Indigenous partnerships.
Bottom Line?
Macro Metals is poised to transition from preparation to delivery, with export access and equity stakes underpinning its growth ambitions in 2026.
Questions in the middle?
- How will Macro Metals secure final offtake agreements and project financing for Extension Iron Ore?
- What are the timelines and risks associated with obtaining full environmental and heritage approvals?
- How scalable and profitable will the Macro Gold Mining Services joint venture become in the near term?