Legacy Iron Ore

What Legacy Iron Ore does

Legacy Iron Ore Limited (ASX: LCY) is a Perth-based Australian mineral exploration and development company founded in 2008, focused on the discovery and advancement of iron ore, gold, base metals, nickel, lithium and rare earth element deposits in Western Australia. The company's portfolio spans three principal project clusters: Mt Bevan (a 1,170 Mt @ 34.9% Fe magnetite iron ore flagship jointly developed with Hancock Magnetite Holdings and Hawthorn Resources), South Laverton gold assets (including the 312,600 oz JORC 2012 Mt Celia resource and Yilgangi/Yerilla deposits in the Laverton Tectonic Zone), and the East Kimberley base metals and critical minerals suite (Koongie Park VHMS, Sophie Downs, Taylor Lookout and Ruby Plains). Underlying technology comprises conventional mineral exploration methods including drilling programs, geophysical surveys, and geochemical analysis, with no proprietary AI or advanced analytical stack disclosed.

The business is pre-revenue and operates through a joint venture and strategic partnership model. Legacy Iron Ore is backed by NMDC Limited, India's largest iron ore producer and a Navratna Public Sector Enterprise, which serves as cornerstone investor, provides funding capacity, technical capability, and global market access, and holds board representation through Chairman Mr Amitava Mukherjee. Hancock Magnetite Holdings is the joint venture partner at the flagship Mt Bevan project, where it can earn up to 51% of the iron ore interest via a Pre-Feasibility Study and fund up to $22 million for an additional 43.5% interest in lithium and base metals. Legacy retains the right to acquire up to 75% of end product from successful joint venture projects, positioning the company for downstream offtake economics. The company employs between 11 and 50 people, communicates primarily through ASX announcements and investor presentations, and is led by CEO Dr. Ranajit Das with a stated mandate to transition the asset base from exploration to production, beginning with near-term cashflows from Mt Celia and scaling into longer-duration production at Mt Bevan.

Name

Legacy Iron Ore

Legal name

Legacy Iron Ore Limited

Website

https://legacyiron.com.au

Company type

Public

Founded year

2008

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Product category

Mineral Resource Exploration

NAICS

Iron Ore Mining (212210), Copper, Nickel, Lead, and Zinc Mining (212230), Other Metal Ore Mining (21229)

SIC

Miscellaneous Metal Ores (1090), Metal Mining (1000)

akta.pro primary industry

Iron Ore Exploration & Resource Definition (IMAKAAAA)

akta.pro secondary industries

Exploration & Resource Development (Critical Minerals) (IMAKAFAL), Copper Exploration & Resource Development (IMAKADAA), Iron Ore Mine Development & Expansion (EPC, Construction, Commissioning) (IMAKAAAB)

Keywords

• Iron ore exploration
• Magnetite resources
• Gold mining
• Base metals exploration
• Mineral development

Headquarters

HQ city

Perth

HQ country

Australia

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Supply Chain, Technology or R&D, Marketing or Sales

Revenue model

1. Mineral Resource Development and Production: Legacy Iron Ore generates value through exploration, definition, and development of mineral deposits including iron ore, gold, base metals, nickel, lithium, and rare earths. The company aims to transform exploration assets into producing mines generating cashflows. Revenue will come from sale of extracted minerals upon reaching production stage. The company retains the right to acquire up to 75 percent of end product from joint venture projects.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Legacy Iron Ore is a Perth-based Australian mining exploration company focused on identifying, exploring, and developing iron ore, gold, base metals, lithium, and other mineral deposits primarily in Western Australia. The company's flagship asset is the Mt Bevan Magnetite project, and it operates through joint ventures with established mining groups including Hancock Prospecting and Hawthorn Resources, with backing from NMDC Limited of India.

Product overview

Legacy Iron Ore Limited is a Perth-based Australian mining exploration company focused on the discovery and development of mineral deposits in Western Australia. The company's portfolio comprises multiple projects across iron ore (magnetite), gold, base metals, nickel, lithium, tungsten, and rare earth elements. The flagship project is the Mt Bevan Magnetite Project (42% interest via joint venture with Hancock), a tier-one iron ore target. Gold assets include the Mt Celia project (312,600 oz JORC resource) and Yilgangi/Yerilla deposits. Critical minerals exploration encompasses lithium and base metals at Mt Bevan, and base metals/tungsten/REE at the East Kimberley projects. The company operates through joint venture agreements with Hancock Prospecting and is backed by cornerstone investor NMDC Limited of India.

Differentiator

Problem solved

Functional benefit

Products and services

• Mt Bevan Magnetite Project Flagship magnetite iron ore exploration and development project in Western Australia, intended to produce magnetite concentrate for global steel manufacturers.
• Gold and Base Metals Exploration Portfolio Exploration-stage projects targeting gold, base metals, lithium, and other mineral deposits in Western Australia, developed in joint venture with Hancock Prospecting and Hawthorn Resources.

Quantifiable outcome

• Mt Bevan Iron Ore project potential for tier one, globally significant producer delivering strong and consistent cashflows over substantial period

Segments2 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered flagship, core and minor.

• Hancock Magnetite Holdings Pty LtdflagshipStrategic or Co-development Partner · 15 June 2023Hancock Magnetite Holdings Pty Ltd (Hancock) is a joint venture partner at the flagship Mt Bevan project. Under binding joint venture agreements: (1) For iron ore, Hancock can earn up to 51% through the Pre-Feasibility Study; current interests are Legacy 42%, Hawthorn 28%, Hancock 30%. (2) For lithium and base metals, Hancock may fund up to $22 million for an additional 43.5% interest; current interests are Legacy 55.5%, Hawthorn 37%, Hancock 7.5%. Hancock has appointed Atlas as Manager of the iron ore joint venture. Legacy retains right to acquire up to 75% of end product from any successful JV project.
• Hawthorn Resources LimitedcoreStrategic or Co-development PartnerHawthorn Resources Limited (ASX: HAW) is a joint venture partner with Legacy Iron Ore at the Mt Bevan project. Current joint venture interests: for iron ore - Legacy 42%, Hawthorn 28%, Hancock 30%; for lithium and base metals - Legacy 55.5%, Hawthorn 37%, Hancock 7.5%. Hawthorn is an ASX-listed exploration company focused on gold and iron ore in Western Australia.
• Anglo Australian Resources LimitedminorStrategic or Co-development PartnerAnglo Australian Resources Limited (AAR) has defined substantial base metal/gold/silver mineralisation at its VHMS deposits contiguous with Legacy's Koongie Park tenement in the East Kimberley project. AAR has defined JORC resources of 8Mt at 3.3% zinc, 1.2% copper, 0.3g/t gold and 23g/t silver at adjacent deposits, indicating prospective nature of Legacy's ground.

Scale indicators3 records

Recent moves7 records

Expansion highlights4 records

Market position

Strengths4 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/legacy-iron-ore-limited/about

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Legacy Iron Ore