https://www.miningweekly.com

Grange ups pellet production in March quarter

20th April 2015

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – Pellet producer Grange Resources has reported record production during the quarter ended March, despite the significant decline in iron-ore prices.

The miner on Monday reported that production during the three months to March reached 645 287 t, compared with the 595 429 t of pellets produced in the December quarter.

CEO Honglin Zhao noted that the company continued to benefit from the high-quality and low-impurity nature of its flagship pellet product, and despite the fall in iron-ore prices, the company continued to receive relatively strong prices for its product.

“This reflects the quality of our pellets, which leaves us well placed to benefit from the expansion pollution controls being imposed in China and the scrutiny being placed on Chinese steel mils.”

During the quarter under review, Grange’s average prices received dropped from $91.34/t reported in the December quarter, to $78.73/t.

“Our margins have also been underpinned by our ongoing cost-cutting programme, while record production has helped protect our bottom line, leaving the company with A$144.2-million cash at the end of March,” said Zhao.

Some 335 758 t of pellets were sold during the quarter, compared with the 640 623 t sold during the December quarter, while iron-ore concentrate sales reached 40 t, compared with the 50 t sold in the previous quarter.

Edited by Creamer Media Reporter

Comments

Showroom

Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 
Condra Cranes
Condra Cranes

ISO-certified Condra manufactures overhead cranes, portal cranes, cantilever cranes and crane components: hoists, drives, end-carriages, brakes and...

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:0.196 0.235s - 88pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: