BC Iron remains on track to meet production targets
PERTH (miningweekly.com) – Iron-ore junior BC Iron on Monday reported that it was on target to reach its guided six-million-ton-a-year production rate during the current quarter, after a solid performance from its Nullagine iron-ore project during the three months to March.
BC reported that some 1.2-million tons of ore was mined at the Nullagine project, with some 1.1-million tons shipped during the quarter.
“Exporting 1.1-million tons of the Nullagine joint venture’s (JV’s) quality Bonnie fines ore during the March quarter was particularly encouraging, given that production was impacted for a week due to Tropical Cyclone Rusty,” said incoming MD Morgan Ball.
He noted that as the company allowed for the effects of the annual wet season in its planning, the quarter’s production actually exceeded forecast.
“We are now very close to achieving our short-term goal of running the JV at a production rate of six-million tons a year, reflecting excellent progress since the Fortescue transaction in the last quarter. This transaction increased BC’s attributable iron-ore exports by 80%, and allowed us to lift infrastructure capacity to six-million tons a year for the life of the joint venture.”
Ball said that moving forward, BC’s major development focus would remain the Pilbara region, where strong growth opportunities existed both within the Nullagine project, and in the broader region.
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