Grange delivers on North Pit ahead of schedule
PERTH (miningweekly.com) – Magnetite miner Grange Resources on Thursday reported that remedial plans at its Savage River operation, in Tasmania, were beginning to pay off, with production during the three months to September increasing.
MD Wayne Bould stated that the redevelopment of the North Pit mine was running ahead of schedule, following a 2012 wall failure.
“The Tasmanian winter is very demanding operationally at the best of times. With snow, record rainfalls and very strong winds, the 2013 winter was particularly challenging.
“Despite the climatic adversity, this quarter we were effective in exceeding our plan to regain access to the North Pit high-grade ore ahead of schedule during September. This has seen us rebalance our run-of-mine stockpile feeds and significantly increase our weight recovery,” Bould said.
Concentrate production during the three months under review increased to 472 108 t, compared with the 397 075 t produced in the three months to June, as weight recovery increased from 25.4% in that quarter to 31.5%.
Sales for the quarter also increased to 536 503 t, compared with the 380 290 t sold during the quarter ended June.
The average price received during the quarter was $133.85/t of product sold, which Bould said reflected the quality premium that was attached to Grange’s iron-ore pellets.
He noted that revenues received at Savage River were likely to remain similar to current levels through the next year.
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