Magnetite Mines Limited

The District Council of Peterborough includes the towns of Peterborough, Yoongala and Oodla Wirra. Peterborough , located approximately 250 km north of Adelaide, is strategically positioned on the east-west railway linking Port Pirie and Broken Hill, and is emerging as a centre for tourism, space technologies, mining, agriculture and community services.

Magnetite Mines is focused on the development of magnetite iron ore resources in the highly-prospective Braemar iron region of South Australia. Its flagship Razorback Iron Ore Project is comprised of the Razorback and Iron Peak deposits.

Project: Memorandum of Understanding for community participation in the Razorback Iron Ore Project, Peterborough

Premier's Awards category: Community - Resources

The opening of a new iron ore province and development of a multi-generational mining asset is a highly complex process, and one that requires collaboration across countless stakeholders. This is specifically evident within the relationship between project proponent and communities impacted by planned operations, where increasing social performance standards expected by governments, investors and others places significant focus on how impacts from mining projects are managed and benefits are shared.

It was clear for both the District Council of Peterborough and Magnetite Mines that a unique opportunity was being presented – an emerging project on Peterborough’s doorstep and two motivated groups targeting best-practice project delivery outcomes for the 1,600 strong local community.

The Memorandum:

provides a formal structure to cooperate on community and economic development programs through the Razorback Project
co-develops local engagement and solutions tailored for the community
coordinates community advocacy and strives for a positive legacy from each phase of the project.

The signing of a Memorandum of Understanding between the two parties has been a vital, strategic move – one that has already delivered material outcomes for the Council, community and company in terms of engagement, partnering, development and future growth.