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Gindalbie Metals Ltd

Gindalbie Metals makes first shipment of magnetite

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Gindalbie Metals (ASX: GBG) has reached a key milestone with the first shipment of magnetite concentrate from its Karara Iron Ore project in Western Australia.

The shipment of about 55,000 tonnes of concentrate departed the Karara Export Terminal in Geraldton yesterday for China.

Commissioning of the Karara Concentrator is continuing to progress well, with various sections of the plant being sequentially commissioned and production rates together with concentrate quality increasing in line with the commissioning and ramp up plan.

Gindalbie added the project was on track to achieve its full nameplate production capability of 8 million tonnes per annum by the end of April 2013.

Karara successfully passed the milestone of 1 million tonnes of hematite DSO shipped in early December 2012, demonstrating the efficiency of the entire Karara logistics chain.

The project has probable magnetite reserves of 955.5Mt at 36.4% iron as at 30 June 2012.

 

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