Tempest Minerals has taken two significant steps forward in advancing the Remorse magnetite iron ore deposit at the Yalgoo Project. We are pleased to share key updates on our recent Memorandum of Understanding (MOU) with Green Steel and Iron Pty Ltd and the commencement of metallurgical testing.
Key Insights:
MOU with Green Steel and Iron: Tempest has signed an agreement with GreenSteel to explore opportunities for the Remorse deposit. This partnership aims to fast-track high-grade magnetite processing for use in green steelmaking, a rapidly growing sector focused on reducing carbon emissions in steel production.
$3 Billion Iron Processing Hub: GreenSteel is planning a multi-user hot briquetted iron (HBI) processing hub adjacent to the Yalgoo Project, creating a strategic opportunity for Tempest. The development of HBI technology is pivotal in the green steel industry, as it offers a cleaner alternative to traditional methods of iron reduction, helping to meet sustainability goals while addressing the growing demand for steel in renewable energy infrastructure and electric vehicles.
Advancing Metallurgical Testing: Over five tonnes of drill samples are being tested, with results expected in March 2025. These studies will evaluate key processing factors, supporting future development strategies for sustainable iron production. As the green steel industry seeks to reduce its reliance on coal, high-quality magnetite is becoming increasingly valuable for its direct reduction process, making Tempest’s focus on this resource timely and strategically important.
Exploration & Growth:
Ongoing exploration and drilling plans continue across multiple targets, including our gold prospects at Sanity, Elephant, and Mt Magnet.
For full details, please read the official ASX announcements:
MOU with Green Steel and Iron: View Announcement
Metallurgical Testing Update: View Announcement
