Proactive Investors - Run By Investors For Investors

Gindalbie Metals makes first shipment of magnetite

Gindalbie Metals makes first shipment of magnetite

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.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

View full GBG profile View Profile

Gindalbie Metals Ltd Timeline

Newswire
June 12 2013

© Proactive Investors 2019

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use