https://www.miningweekly.com

BC reports strong production quarter

BC reports strong production quarter

Photo by Bloomberg

28th July 2014

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – Iron-ore miner BC Iron has reported record full-year production at its Nullagine joint venture (JV) operation, in Western Australia, during the year ended June.

The miner said on Monday that a 10% increase in ore mined during the three months to June, which reached 1.58-million tonnes, had pushed full-year production to 5.65-million tonnes.

Sales for the full year reached a record 5.8-million tonnes, with BC Iron’s share of the sale being 4.3-million tonnes, or 74% of the JV’s total.

However, shipping during the quarter was down 11% on the previous corresponding quarter, to 1.6-million tonnes, following a delay of the Nullagine JV’s final scheduled shipment.

BC Iron MD Morgan Ball said on Monday that the Nullagine JV finished the financial year strongly to achieve its sales guidance, despite the delay of the last June shipment.

“It was pleasing to continue generating positive operating cash flows against a backdrop of soft iron-ore prices, increasing product discounts and a resilient Australian dollar.”

Ball said that both the Nullagine JV and BC Iron as a whole was able to withstand the cyclical nature of the iron-ore industry, with the company’s balance sheet remaining strong, enhancing the company’s ability to face any further challenges in the coming year.

“We continue to consolidate this position through our ongoing focus on cost control and operational initiatives,” Ball added.

The Nullagine JV, with Fortescue Metals, was currently operating at its nameplate capacity of six-million tonnes a year, and was expected to deliver sales volumes of between 5.8-million tonnes and 6.2-million tonnes in the 2015 financial year.

Edited by Creamer Media Reporter

Comments

Showroom

SBS Tanks
SBS Tanks

SBS® Tanks is a leading provider of innovative water security solutions with offices in Southern Africa, East and West Africa, the USA and an...

VISIT SHOWROOM 
Rentech
Rentech

Rentech provides renewable energy products and services to the local and selected African markets. Supplying inverters, lithium and lead-acid...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (15/03/2024)
15th March 2024 By: Martin Creamer
Gold, hydrogen, mining boost make headlines
Gold, hydrogen, mining boost make headlines
15th March 2024
Magazine round up | 15 March 2024
Magazine round up | 15 March 2024
15th March 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.103 0.141s - 88pq - 2rq
Subscribe Now