Grange confident of meeting FY output target
PERTH (miningweekly.com) – Pellet producer Grange Resources is optimistic about its targeted production for the full 2015, despite a 65-day downtime at one of its two mills.
The company said on Thursday that owing to the highly successful refurbishment of the mill, which delivered increased production rates and greater efficiency, Grange was on track to produce some 2.5-million tonnes of magnetite concentrate for the full-year, which was on par with that produced in 2014.
Concentrate production from the Savage mine would be pumped to the pellet plant at Port Latta, in Tasmania, to produce some 2.6-million tonnes of pellets.
Meanwhile, Grange would proceed with the refurbishment of its second mill during the June 2016 quarter, with the shutdown expected to take some 55 days.
The completion of the two mill upgrades would underpin an increase in total production capacity to 2.7-million tonnes a year and would significantly reduce operating risks, the company said.
However, depending on the results of the mine rescheduling work, Grange could elect to optimise mining rates to the level needed to sustain pellet production around current rates. This would mean keeping concentrate production at around 2.6-million tonnes a year.
The optimisation strategy, which was expected to be completed later this year, was part of Grange’s overarching strategy to continue reducing costs, maximising margins and growing free cash flow rather than simply increasing production.
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