PERTH (miningweekly.com) – Iron-ore miner Mount Gibson has reported record full-year sales of 8.8-million tonnes, as operations during the three months to June delivered on expectations.
Total sales during the June quarter reached 2.3-million tonnes of iron-ore, with the Mid West operations contributing some 1.8-million tonnes and the Koolan Island operation selling a further 578 000 t.
“Mount Gibson’s continued strong operational performance in the June quarter delivered record full-year sales of 8.8-million tonnes and provided a substantial buffer against the volatile market conditions which prevailed during the period,” said CEO Jim Beyer.
He noted that the record performance of the Mid West operation was particularly pleasing, and offset an anticipated temporary dip in ore production at the Koolan Island operation, as Mount Gibson started mining ramp-up to achieve its four-million tonne a year output by the end of next year.
“This demonstrates the merits of our portfolio management approach to operating our business, and gives us confidence we can increase sales to 9-million or 9.5-million tonnes in this financial year.”
Earlier this week, Mount Gibson announced that its T1 deposit, at the Tallering Peak operation, would deliver its first production by September this year.
Production at T1 was expected to conclude by mid-2014, and the operation was expected to lift Mount Gibson’s total ore sales to some 2.5-million tonnes in 2014, including some 700 000 t of stockpiled lower-grade ore.