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Brazil-focused SAFM reports record quarter

28th October 2013

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – Junior mining company South American Ferro Metals (SAFM) has reported record production volumes for the three months to September, as its Ponto Verde plant, in Brazil's Minas Gerais state, recovered from previous production difficulties.

Run-of-mine iron-ore production increased by more than 10% during the quarter, to 353 065 t, while beneficiation production increased by nearly 40% quarter-on-quarter to 182 500 t.

“SAFM’s production team worked expeditiously to address the recent water reticulation issues and it is pleasing to report record beneficiated production for the quarter,” said CEO Stephen Turner.

He noted that during the quarter, the company also acquired a waste and tailings disposal property as part of its expansion to capacity of eight-million tonne a year.

The expansion project’s bankable feasibility study would likely be completed by April next year, with metallurgical testwork also scheduled for completion by November this year, as part of the study.

Applications for environmental and installation licences were submitted to the relevant authorities in July, and SAFM expected these licences to be granted by early 2014.

Edited by Creamer Media Reporter

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