Athena Resources (ASX:AHN) is collaborating with Warradarge Energy and Fenix Resources (ASX:FEX) to advance the Mid West Green Iron Project in Western Australia. Athena Resources is an Australian resources company focused on exploring and developing iron ore projects. Fenix Resources is an Australian mining company that transports iron ore from its Iron Ridge mine to Geraldton Port.
The parties signed a memorandum of understanding agreement to commercialise green iron using locally sourced iron ore and green hydrogen, offering equal shareholdings. The agreement outlines a three-stage process, commencing with a validation phase to assess the feasibility of green iron production. This involves testing magnetite from Athena’s Byro Magnetite Project, hydrogen from Warradarge’s Mid West Green Hydrogen Project, and logistics planning and port services provided by Fenix.
Following the validation phase, expected to conclude by late 2026, the project will move into a demonstration phase with a small-scale plant. If successful, the final stage will involve commercial production with a full-scale plant. Athena CEO Peter Jones highlighted the unique opportunity to produce high-grade products due to the project’s quality, scale, location, and metallurgy. He also noted the synergistic development plans of Warradarge Energy and the logistical support and balance sheet of Fenix.
Jones added that while Athena will maintain its focus on production at the Byro Magnetite Project, this collaboration will enhance the market value of its iron products and expand export opportunities. The Byro Magnetite Project hosts a resource of 29.3 million tonnes at 24.7% iron at its FE1 deposit. Green iron reduces the carbon footprint in steel production by eliminating the need for coal.
