Athena Resources joins Mid West green iron project in Western Australia
Athena Resources has agreed to become a foundation partner with Warradarge Energy and Fenix Resources to establish the Mid West green iron project in Western Australia’s mid-west region.
Athena’s role will initially involve providing ore samples from its Byro magnetite project to trial suitable green iron technologies, with the potential to supply high-grade magnetite concentrate for the project, which aims to produce green iron, a sustainable product made using carbon-neutral energy sources such as green hydrogen instead of fossil fuels.
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This method can reduce carbon emissions by up to 90% compared to traditional steel production processes.
The parties have signed a binding memorandum of understanding to collaborate on planning and establishing the project.
The new company, Mid West Green Iron, will be formed with equal shareholdings between the parties to serve as the project development vehicle.
The Byro magnetite project is capable of producing a 70% Fe grade concentrate, making it ideal for green iron applications.
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By GlobalDataAthena managing director and CEO Peter Jones stated: “The quality, scale, ocation and metallurgy of the Byro magnetite project [have a] unique ability to provide the ultra-high-grade concentrate products required for a regional green iron development. Warradarge Energy has a similar regional focus and a synergistic scaled development plan for their Warradarge green hydrogen project in the Midwest. Fenix, Athena’s largest shareholder, has the regional logistics solutions and balance sheet to support future project development and management of a green iron project.
“Athena’s primary focus remains the development of the company’s 100% owned high-quality Byro magnetite project. Partnering on local green iron opportunities is an obvious opportunity for Athena to develop a future high-value market for our iron products in addition to the obvious export opportunities.”
The Mid West green iron project will be developed in three stages: validation, demonstration and commercial production.
The validation phase, expected to conclude by the end of 2026, will involve testing magnetite concentrate samples from Athena’s Byro magnetite project.
The demonstration phase will see the creation of a small-scale green iron plant, with the possibility of further partnerships and funding agreements.
Successful demonstration will lead to the development of a full-scale production plant, with the potential to include additional project partners.
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