Aurizon, Northern Iron strike major deal for magnetite export in $40bn economy goal
Two giants of industry have struck a deal to take the Territory’s freight and export sectors to the next level while moving towards a $40bn economy.
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A deal between two major industry bosses is set to boost the NT’s railway efficiency, diversify freight transport and improve the Territory’s exports.
Northern Iron has partnered with Aurizon to deliver 1.2 million tonnes per year of magnetite from Tennant Creek to Darwin Port.
Managing director Rob Morrow said the project was a few years in the making and would finally kick off in March next year.
“We’ll be looking to mine and recover from the pre-stockpiled … high grade magnetite concentrate, which will then be exported,” he said.
“To do that, we’ll have a strategic partnership with Aurizon, where they’ll rail the material into Darwin port and then we’ll export it through to Asia.
“Magnetite concentrate is the next step in the decarbonisation of the steel industry and this is an enabler for that to happen.”
Aurizon general manager Matt Jones said the project was the first major contract the company had won since it took over the Territory’s rail and infrastructure business last year.
The project includes a railway siding and stockpile hardstand 18km north of Tennant Creek, the first development of its kind in the NT in 20 years.
“It builds on a number of contract renewals by Aurizon over the past year to support the growth of our existing customers along the Adelaide to Darwin corridor,” he said.
“Aurizon’s major investment in Central Australia recognises the strategic value and potential of the business in serving rapidly-growing markets for resources, agribusiness, renewable energy and general freight.
“Aurizon sees the 2240-km Tarcoola to Darwin railway as a nationally-significant corridor with direct connection to the Port of Darwin, the closest port to Australia’s largest trading partners in Asia.”
He said a dedicated train would run about four services per week.
The project is expected to create about 35 permanent jobs in Tennant Creek.
Infrastructure, Planning and Logistics Minister Eva Lawler said the partnership was a critical step towards the Territory’s plan to build a $40bn economy by 2030.
“Aurizon have been in the Territory since early 2022 and are the leading rail freight business in Australia,” she said.
“Like the Territory government’s regional logistics hubs project, this deal will increase exports, boost the economy and reduce our carbon footprint.”
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