Gindalbie highlights shipping dates
16th Apr 2012
PERTH, Apr 16 – The first test shipment of magnetite concentrate from the Gindalbie Metals’ Karara iron ore project, 200km east of Geraldton in Western Australia, is scheduled for September this year and hematite shipments are scheduled to recommence in July.
Over 800,000t of lump and fines hematite ore has been stockpiled and shipments will recommence when the rail and port infrastructure are available. During the March quarter, Karara shipped 114,000t of lump and fines ore in six shipments, completing the contract with SinoSteel.
Gindalbie is developing the Karara project with Ansteel, China’s second-largest steel maker and biggest iron ore producer (50%). The project consists of a smaller-scale hematite operation, plus a substantial, long-life, magnetite concentrate operation with the potential to produce +30Mtpa for more than 35 years.
Gindalbie says construction costs remain within the $2.57B estimate, with all primary infrastructure on schedule to be completed ahead of the processing plant. A total of $A1.97B has so far been spent on the project.
A maiden mineral resource of 1.48Bt grading 27.15% Fe has been completed for the 100%-owned Lodestone magnetite project, 45km south-east of Karara. Initial analysis indicates the potential to produce a premium magnetite concentrate grading more than 63% Fe with low impurities and work is now progressing towards a scoping study.
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