Elmore’s third magnetite shipment sets sail for China

27th October 2023 By: Creamer Media Reporter

ASX-listed Elmore’s third shipment of magnetite concentrate has departed from the Port of Darwin, the company reported on Friday.

The shipment of 30 000 wet metric tonnes is sailing to China to be received by offtake partner Royal Advance.

The shipment was Elmore’s largest yet, chairperson Russell Baskerville said in a statement.

“Elmore is pleased to have reached this significant milestone . . . particularly as this shipment was loaded with substantially less issues than the previous two shipments,” he said.

Shiploading occurred over four days at a rate of about 650 t/h.

Elmore owns the Northern Territory-based Peko mine, which will initially produce an iron-ore magnetite product. However, the company plans to use the plant and equipment at Peko to produce copper, cobalt and gold from tailings deposits at the mine.