London-listed African Minerals last week said it had exceeded the targeted 20- million-tonnes-a-year export run rate at its 75%-owned Sierra Leone-based Tonkolili iron-ore mine, in Sierra Leone.
The company achieved peak daily mining production of 75 852 t between May 18 and June 16, which, if maintained, would equate to 27.7-million tonnes a year.
This followed the continued ramp-up of rail and port facilities, which included the commissioning of a high-capacity second car dumper at Pepel port, enabling the dispatch of ten Capesize vessels carrying 1.7-million tonnes of product.
In addition, the company reported that the processing plants had been consistently operating above the 20-million-tonnes-a-year run-rate target since May 1, and had achieved an average annualised production run rate for the period from May 1 to June 16 of 20.3- million tonnes a year.
African Minerals CEO Keith Calder said it was significant that operational targets were achieved during the start of the rainy season in Sierra Leone, demonstrating the success of the company’s wet season shipping strategy.
“Our focus now is to continue the successful management of our production and infrastructure through the wet season, as we remain on track to meet our previous guidance of exporting between 13-million tonnes and 15-million tonnes this year,” he commented.
He added that the company would aim to reduce the cost of production to around $30/t by the year-end.
The next stage of project expansion would pursue the production of up to 35-million tonnes a year of 64% high-grade hematite concentrate, in conjunction with the expansion of the current port facilities at Pepel.
The Tonkolili project boasts an estimated 60-year mine life and a Joint Ore Reserves Committee-compliant resource of 12.8-billion tonnes, and was being developed in a number of staged expansions.
African Minerals had also developed significant port and rail infrastructure to support the operation of the project, through its subsidiary African Rail and Port Services, in which the government of Sierra Leone has a 10% free-carried interest.