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5 May 2023


  • The District Council of Peterborough and Magnetite Mines have signed an agreement to collaborate on programs that support local participation, shared infrastructure development and community engagement with the Razorback Iron Ore Project

  • This unique MOU between a mining company and local government represents a leading sustainability initiative to partner with host communities

  • Partnership underpinned by significant positive interest in the Razorback Project from Peterborough residents and businesses

  • Substantial economic activity and employment opportunities for the Peterborough community identified by BDO EconSearch modelling

District Council of Peterborough Mayor Ruth Whittle OAM commented:

“The District Council of Peterborough welcomes the opportunity to enter into a Memorandum of Understanding with Magnetite Mines that will provide the basis for both parties to work collaboratively on achieving the social and economic outcomes for the long-term benefit of the Community.

“This is a momentous occasion for the Council and the Community that provides optimism for planning a sustainable future founded on employment prospects, business opportunities and potential population growth.

“The Council will be working closely with Magnetite Mines to understand the infrastructure upgrade needs, development requirements for businesses and residential growth opportunities to support the mine development during the initial construction phase and into full operations.

“With the Premier making a firm commitment at the recent Economic Summit to work closely with local councils to achieve economic outcomes, Council will be lobbying the Government for financial and non-financial incentives directed towards the development of the community, its infrastructure and businesses as a means to fully meet the needs and demands of the mine operations.

“With this promising future one extra permanent job within the community provides the basis for one hundred possible outcomes and our purpose is to make these outcomes a reality”.

Magnetite Mines CEO Tim Dobson commented:

“We are truly excited to partner with the District Council of Peterborough with an agreement that reflects both party’s commitment to working together in the best interests of all stakeholders.

“Magnetite Mines is determined to role model sustainability leadership through all phases of the Razorback Project and this unique MOU is an example of that commitment. Our actions today establish a foundation for positive community relationships ahead of decades of projected production from Razorback and the massive Braemar Iron region, and we look forward to creating the opportunity for economic growth and jobs in the Peterborough and surrounding communities.”

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