Grange sees production boost, remedial works ahead of schedule

Magnetite producer Grange Resources’ North Pit mine redevelopment is running ahead of schedule, following a rock slide in July 2012.

Hitting higher grade ore at the Savage River site in Tasmania, production increased by almost a quarter in the three months to September, compared to the same period last year.

September quarter production did drop by over 200,000 tonnes in comparison to the June 2013 quarter.

Grange managing director Wayne Bould said quarter three was always going to be the company’s toughest.

”The Tasmanian winter is very demanding operationally at the best of times. With snow, record rainfalls and very strong winds the 2013 winter was particularly challenging,” he said.

“Despite the climatic adversity this quarter we were effective in exceeding our plan to regain access to the North Pit high grade ore ahead of schedule during September. This has seen us rebalance our ROM stockpile feeds and significantly increase our weight recovery.”

Sales for the September quarter jumped to 536,503dmt, compared to the June quarter results of 380,260dmt.

The average price received during the quarter was $US133.85 per tonne of product sold which Bould said reflects the quality of the company’s iron ore pellets.

Grange said it expects Savage River revenues to remain at current levels through the next quarter.

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