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Windimurra delivers record production as ramp-up continues - Atlantic

Michael Minosora

Michael Minosora

Photo by Bloomberg

3rd December 2013

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – Vanadium miner Atlantic has reported record ferrovanadium production at its Windimurra project, in Western Australia.

The project produced 106 t of contained vanadium during November, which was more than double the previous monthly record. The record production was despite an eight-day production loss while the furnace crucible was changed for re-lining.

Windimurra is currently ramping up to its full capacity of 6 300 t/y of contained vanadium, with MD Michael Minosora noting that the focus would be on delivering improvements in production on a month-to-month basis, as the plant and equipment were fine-tuned, and improvements were made in operating procedures and practices.

Atlantic has also been granted regulatory approvals to continue exports of iron-ore fines from the Windimurra project, following four trial shipments in October this year.

The next shipment of iron-ore fines was scheduled for the first week of December.

Regulatory approval was also received for one shipment of direct shipping ore, high-titanium iron-ore lump product, which was planned for late December.

Meanwhile, Minosora reported on Tuesday that the company had now received A$5.25-million in unsecured loan facilities from major shareholder Droxford International.

The new funding brought Droxford’s total loan sum since October to some A$20-million.

As a result of the additional funding, all conditions for the release of $5-million from subsidiary Midwest Vanadium’s interest reserve account have now been met, and the loan also rectified the technical breach of the interest reserve account’s minimum holding requirement.

The new funds received from Droxford and the interest reserve account funds would be used as working capital for the ongoing ramp-up at Windimurra.

Edited by Creamer Media Reporter

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