KARARA PROJECT SHIPS FIRST MAGNETITE CONCENTRATE
ANOTHER KEY MILESTONE ACHIEVED AS COMMISSIONING AND PRODUCTION RAMP-UP CONTINUES
Gindalbie Metals Limited (ASX: GBG - "Gindalbie") is pleased to announce that the first shipment of magnetite concentrate from the Karara Iron Ore Project in Western Australia has been dispatched from the Karara Export Terminal in Geraldton for China - the first-ever significant shipment of magnetite from Western Australia.
Loading of the historic shipment, which comprised approximately 55,000 tonnes of magnetite concentrate, was completed on 31 December 2012 on the Panamax vessel 'Sunrise Star'.
The ship departed Geraldton on the high tide at midday on 1 January 2013, bound for China.
Commissioning of the Karara Concentrator is continuing to progress well, with various sections of the plant being sequentially commissioned and production rates together with concentrate quality increasing in line with the commissioning and ramp up plan which was developed some months ago.
Commissioning will continue to progress over the coming months, with the Project on track to achieve its full nameplate production capability of 8Mtpa by the end of April 2013.
Further updates and guidance on the progress of commissioning will be provided in the Company's December
Quarterly Report, which is due for release by mid-January 2013.
In early December, Karara successfully passed the milestone of 1 million tonnes of hematite DSO shipped. The strong ramp-up performance of the DSO business has clearly demonstrated the efficiency of the entire Karara logistics chain - which continues to perform above expectations.
source: 4 traders |
