PERTH (miningweekly.com) - Iron-ore junior Mount Gibson has reported record shipments for the three months to December, with the miner moving some 2.67-million tons of iron-ore.
This was up 52% on the previous quarter.
The increased shipments during the quarter also saw the six-month shipment figure rise by 86%, to 4.43-million tons. These shipments included 398 000 t of low-grade ore and mineralised waste.
The Koolan Island operation delivered a record of 1.29-million tons during the quarter, with production 27% higher and crushing 15% higher than the previous quarter.
Tons railed from the Mid West mines to the Geraldton port totalled 1.33-million tons during the quarter, a 41% increase on the preceding quarter.
Mount Gibson CEO Jim Beyer said on Tuesday that the company’s continued operating improvement and record sales volumes demonstrated that its focus on business optimisation during 2012 was beginning to deliver substantial benefits.
“It is gratifying that our focus on business improvement, which we made our number one priority for 2012, is bearing fruit. Similarly, we are pleased with progress of the major operational changes we announced in October, and intend to pursue additional savings and improvements in the months ahead.”
In October last year, the miner axed 270 jobs and announced plans to shave capital spending by between A$120-million and A$150-million, as well as slow down its mining operations.
Beyer said on Tuesday that the upswing in iron-ore prices since September had been encouraging, but noted that recent price movements may be an indicator of future price volatility.
“Our approach has positioned our business to handle this price volatility, providing a buffer against potential price weakness, while also providing flexibility to capitalise when conditions are stronger.”
The company remained on track to meet its full-year sales guidance of between 8-million and 8.5-million tons of iron-ore for the full 2013.