New Mining Opportunities
Integrated Industrial Delivery
Good Water Energy delivers the lowest cost baseload electricity on the planet, outperforming nuclear, wind, solar, hydro, pumped hydro, coal, and gas-generated electricity. Using our patented deep geothermal syphoning technology, we produce clean, sustainable energy 24/7, anywhere in the world, without environmental harm or toxic waste.
Oakajee Project
The diagram to the right illustrates the fully integrated Good Iron system, demonstrating how renewable geothermal electricity, hydrogen and water supplied by Good Iron will enable mining, pelletisation, transport and green iron and steel production across Western Australia.
Geothermal energy generated at the Oakajee Strategic Industrial Area provides baseload electricity, green hydrogen and green process water. These inputs are manufactured for supply to the Oakajee pelletisation facilities and later to potential mining or mine central pelletisation facilities located up to approximately 300 km inland.
Slurry pipeline delivery from a central upgrade and grinding location is also under investigation as the process appears to be potentially more cost effective than other transport solutions.
For the first 2mtpa green iron facilities plans at Geraldton/Oakajee, bulk materials are planned to be transported using hydrogen fuel-cell powered road transport back to Geraldton/Oakajee, where green iron and (future) green steel production facilities operate using the same renewable energy, hydrogen and water systems. This closed-loop industrial model minimises emissions, reduces operating costs and maximises Australian value capture.
Early-Stage Utility Delivery Logistics (Green H₂ + Ore)
Our production footprint is better than 10,000 times smaller than solar energy systems that require massive investment in batteries for storage. One Ha of geothermal energy system will generate up to 40MWh. Enough to power 40,000 homes. By comparison, 1 Ha of solar panels and battery storage, will not produce enough electricity for 20 homes.
Good Water Energy’s low-cost baseload electricity will make mineral processing and green steel production, commercially viable for the first time. Other industries, such as data centres and coin farming will also benefit greatly from our low-cost electricity and thermal cooling capacity. Behind the metre tariffs are offered at 10c per kWh and our thermal cooling is offered at 5c per kWh.
With Government approval to retail electricity, Good Water Energy will save the average household more than $800 per year on their electricity costs.
Hydrogen Supply + Ore Haulage
(Typical Australian Green Iron Development)
Purpose
Good Water Energy green iron projects will provide early-stage logistics and utility delivery framework for supplying green hydrogen to partner magnetite mining operations and transporting beneficiated 63 to 67% Fe magnetite.
The model replaces diesel-powered mining, haulage and on-site power generation with hydrogen fuel cell (HFC) systems. It is designed to reduce operating costs, improve mining partner margins, and eliminate diesel exposure across mining, transport and energy supply chains.
Planning Basis
(Typical Green Iron Project)
Indicative planning assumptions for a representative Australian green iron development include:
- Pellet plant capacity: Typical - 2.5 Mtpa.
- Green iron production capacity: 2.0 Mtpa.
- Required beneficiated 63 to 67% Fe ore supply: 3.2 Mtpa.
- Typical mine-to-plant haul distance: 300 km (one way).
- Hydrogen sale price (contract basis): A$17/kg (10-year fixed pricing model).
- Indicative benchmark diesel mining cost: A$70–80/t of beneficiated ore.
- Indicative hydrogen-enabled cost reduction: 10–20%.
Hydrogen-Enabled Mining Cost (Indicative)
Large-scale magnetite mining and beneficiation operations in Australia commonly operate at costs of approximately A$70–80 per tonne of beneficiated 63–67% Fe ore when powered by diesel equipment and diesel-generated electricity. Replacing diesel with hydrogen fuel cell (HFC) mobile equipment and hydrogen-based site power generation can reduce total operating costs by an estimated 10–20%, driven by:
- lower effective fuel cost for diggers and haul trucks.
- materially lower on-site electricity generation cost compared with diesel gensets.
- reduced drivetrain and engine maintenance requirements.
On this basis, hydrogen-enabled mining and beneficiation costs are estimated at approximately A$60–65 per tonne of beneficiated ore at the mine gate (indicative).
