Magnetite & the Community
From the pioneering west coast of Tasmania, across SA and NSW, to the groundbreaking Pilbara, Mid-West, Goldfields, Yilgarn and Great Southern regions of WA – covering every aspect of development – magnetite projects depend on the skills and contribution of local communities.
MagNet’s members aim to make regional Australia a better place to work and live. MagNet member projects in WA represent an initial investment of some $16 billion, permanent direct jobs for more than 2 500 Australians, plus more than 9 000 direct construction jobs (see Magnetite Facts & Figures). The development of new mines along the Braemar Iron Formation linking NSW and SA offers similar prospects. Port Pirie Council sees the potential for new industries and services to complement its smelter base, while Broken Hill Council sees the opportunities that large-scale bulk commodity operations could bring to the historic mining city.
Experts have assessed the economic credentials of developing the Australian magnetite industry, estimating that CITIC Pacific Mining’s Sino Iron project alone would contribute more economic benefit and create more jobs in Australia than a benchmark DSO project. (See Public Reports)
Our members recognise that their projects will best thrive in thriving communities. From exploration to export, they are committed to showing respect and support for the indigenous community, local industry, the wider rural population and regional government, by:
- developing infrastructure for long-term regional use
- sponsoring sport, heritage and cultural projects
- financing regional projects in areas including health and education
Two of our members belong to the Geraldton Iron Ore Alliance which has set a benchmark for local initiatives to encourage upskilling and maximise local educational and business opportunities.
For example, at the Extension Hill project, Asia Iron is:
- providing access to over 7 000 hectares of land in support of local research and monitoring of economic and environmentally-sustainable agriculture
For more detailed information about our members’ social and community policies and practices, please refer to the company links on the Members page.