Cyclone Metals Positions Iron Bear as a Game-Changer in High-Grade Magnetite Market

March 25, 2025 12:00 AM AEDT | By Team Kalkine Media

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Cyclone Metals Positions Iron Bear as a Game-Changer in High-Grade Magnetite Market — Image source: shutterstock

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Highlights

Iron Bear magnetite project targets premium-grade pellets.

Strategic backing secured through to production.

Aligned with growing demand for low-emission steel.

Cyclone Metals (ASX:CLE) is emerging as a potential frontrunner in the evolving iron ore market, with its Iron Bear magnetite project gaining attention for its premium-grade potential. With a focus on supplying high-purity iron pellets to support low-emission steelmaking, the company is aligning itself with global industry trends that are reshaping the future of iron ore.

While the Australian iron ore sector has traditionally been dominated by haematite ores grading over 62% Fe, a shift is underway. Depleting haematite reserves and rising demand for cleaner steel production have spotlighted magnetite as a crucial alternative. Cyclone Metals, once under the radar with a modest market capitalisation of around A$10 million, is now attracting growing interest through its Iron Bear project—especially with a rare funding arrangement that supports the project through to production.

The company’s Executive Director and CEO, Paul Berend, highlights the significance of this development. He notes that Cyclone Metals has secured financial support via a strategic partnership with global iron ore heavyweight VALE, enabling a clear pathway to mining and processing. For a small-cap junior company with a market cap under A$50 million, this level of backing is an uncommon advantage.

A key selling point for Iron Bear is its compatibility with the Direct Reduction (DR) process, which is becoming essential in the steel industry’s push for decarbonisation. The DR method demands high-grade iron pellets, and not all magnetite deposits meet this threshold. Cyclone’s recent technical studies suggest that Iron Bear’s magnetite can be upgraded into pellets with over 71% Fe—an exceptional quality that rivals, and in some cases exceeds, the product from larger established producers like Champion Iron.

The project’s green credentials and its alignment with the steel industry’s clean energy goals put Cyclone Metals in a compelling position. As the shift towards sustainable steel accelerates, projects like Iron Bear that can deliver high-grade DR-compatible magnetite will likely become increasingly important.

With the groundwork in place, strong backing, and a high-potential resource, Cyclone Metals is shaping up as one of the more intriguing stories to watch in the ASX small-cap resource space heading into 2025.

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