Australia's Magnetite Mines rises on deal with South Australia ports operator

Magnetite Mines

15/03/2023 24:40

** Shares of Magnetite Mines Ltd  MGT.AX  rise as much as
3.4% to A$0.615, set for best day since March 8, if gains hold 
    ** Iron ore co signs non-binding Memorandum of Understanding
(MOU) with Flinders Ports Pty Ltd, which operates seven ports in
South Australia 
    ** Under MOU, parties to investigate suitable port locations
for the export of high-grade iron ore products from co's
Razorback Iron Ore Project in South Australia
    ** Shares of co are down 3.3% YTD as of last close 
   

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))