Latest Iron Ore Development News

Magnetite Mines’ Razorback Iron Ore Project has been granted Major Project Status by the Australian Government, recognising its national economic importance and unlocking enhanced regulatory support for the next three years.

Tempest Minerals has completed the sale of its Yalgoo Project to Capricorn Metals for $4.5 million in cash and shares, while retaining key iron ore rights. The deal includes potential milestone payments tied to future gold discoveries and mining progress.

Lincoln Minerals has refreshed its leadership and shifted its corporate strategy towards copper discovery, advancing exploration plans at its Minbrie Project and forging key partnerships in graphite and iron ore development.

Iron Road Ltd maintained modest spending on its Central Eyre Iron Project while progressing exploration at the Mulgathing Project, with key drilling results awaited. The company also updated its strategic land options at Cape Hardy amid subdued steel market conditions.

Magnetite Mines Limited has been granted a new exploration licence adjacent to its Ironback Hill rare earth element project, expanding its strategic footprint in South Australia’s Braemar Iron Region. The licence offers promising optionality for future rare earth exploration while the company maintains focus on its core iron ore development.

Tempest Minerals has agreed to sell its Yalgoo Project to Capricorn Metals for $4.5 million in cash and shares, with additional payments tied to future discoveries and production milestones. The deal, expected to complete in early 2026, leaves Tempest retaining iron rights on key tenements while refocusing on other Western Australian assets.

Cyclone Metals advances its flagship Iron Bear Project despite a minor delay in drilling caused by First Nations election disputes, while strengthening its cash position through significant share sales.

Iron Road Ltd progresses its Central Eyre Iron Project and Mulgathing heavy mineral sands exploration despite subdued iron ore investment and volatile energy costs. Strategic land options secured at Cape Hardy signal potential green hydrogen collaboration.

BlueScope Steel reported a resilient FY2025 with $738 million underlying EBIT despite soft market conditions, advancing key growth and decarbonisation initiatives. The company extends its buy-back program and maintains a strong balance sheet as it targets significant earnings uplift by 2030.

AKORA Resources has launched a $2.91 million capital raising through a placement and entitlement offer to fund critical development milestones at its Bekisopa Iron Ore Project in Madagascar.

Macarthur Minerals has successfully raised nearly $2 million through a rights issue, with Gold Valley Yilgarn Pty Ltd underwriting the shortfall and set to become a substantial shareholder pending approval.

CZR Resources has secured shareholder and regulatory approval to sell its Robe Mesa iron ore project for A$75 million, positioning the company to focus on promising gold and base metal exploration in Western Australia.