https://www.miningweekly.com

Gindalbie looks to cut costs

27th January 2015

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – Iron-ore miner Gindalbie Metals on Tuesday told shareholders that further cost cutting measures would be implemented at the company, including a reduction in administrative overheads and the elimination of committee fees payable to directors.

Gindalbie said that it was also reviewing its portfolio of exploration tenements, and would be divesting of those it believed to have little prospectivity.

The miner took the decision in light of the current market conditions and production levels at its Karara operation, in Western Australia, as well as the company’s low share price.

During the quarter ended December, magnetite concentrate production from the Karara project increased by 12% on the previous quarter, to 1.4-million tonnes. A total of 42 shipments were completed during the quarter under review, totaling 2.51-million tonnes of combined magnetite concentrate and hematite direct shipping ore. This was compared with the 35 shipments made in the previous quarter.

Gindalbie was continuing its focus on optimising the Karara plant, and reducing operating costs, with the miner saying that its focus was on low-cost options to debottleneck the plant, considering the significant fall in iron-ore prices.

As a result, capital expenditure on the debottlenecking operations would be kept to a minimum, unless the expenditure has already been approved.

Edited by Creamer Media Reporter

Comments

Showroom

Goodwin Submersible Pumps Africa (Pty) Ltd
Goodwin Submersible Pumps Africa (Pty) Ltd

Goodwin Submersible Pumps Africa is sole distributors for Goodwin electrically driven, submersible, abrasion resistance slurry pumps.

VISIT SHOWROOM 
Yale Lifting Solutions
Yale Lifting Solutions

Yale Lifting Solutions is a leading supplier of lifting and material handling equipment in Southern Africa. Yale offers a wide range of quality...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

PGMs and green hydrogen make headlines
PGMs and green hydrogen make headlines
19th April 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:0.126 0.162s - 88pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: