Nullagine delivers on production targets - BC
SYDNEY (miningweekly.com) – ASX-listed BC Iron on Thursday reported that its Nullagine iron-ore joint venture (JV) is now producing at a rate of six-million tons a year.
“I am delighted to report that we have hit our six-million-ton-a-year throughput rate well before the end of this financial year, which is comfortably within our market guidance for the fourth quarter of this year,” said MD Morgan Ball.
“This milestone is expected to be maintained for the life of the JV and shows the significant progress achieved since the Fortescue transaction became effective on January 1.”
Fortescue sold off 25% of its shareholding in the JV to BC earlier this year, taking the junior’s stake in the project to 75%.
Ball said that accomplishing the production milestone only one year after meeting the original long-term target of five-million tons a year, highlighted another strong operational performance and was a direct result of BC’s commitment to the project and its relationship with partners and stakeholders.
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