Magnetite Mines Limited engages in the exploration and development of magnetite iron ore in South Australia. Its flagship projects include the Razorback Iron Project comprising the Razorback Ridge, Razorback West, Interzone, and Iron Peak prospects located in Adelaide, South Australia, as well as the Ironback Hill prospect situated in South Australia. The company was formerly known as Royal Resources Limited and changed its name to Magnetite Mines Limited in December 2015. Magnetite Mines Limited was incorporated in 2004 and is headquartered in Wayville, Australia.