BC Iron lifts production in Q4

The iron ore miner increased production by 12% to 1.6m tonnes and is positive about 2013-14.

By Staff Reporter ·
22 Jul 2013

BC Iron Ltd shipped a record amount of iron ore in the fourth quarter and remains optimistic about sustainable growth in the year ahead.

The miner shipped a record 1.6 million wet metric tonnes (wmt) of iron ore from the Nullagine Joint Venture in the June quarter, a 12% increase on the previous corresponding period's 1.43 million wmt despite unseasonal heavy rainfall.

The company shipped 5.003 million wmt of iron ore in the 2013 financial year, in line with market guidance.

The group achieved its target production rate of 6 million tonnes per annum ahead of schedule and in line with market guidance for the 2013 financial year.

BC expects to ship 5.8 to 6.2 million tonnes of ore in the 2014 financial year.

BC Iron managing director Morgan Ball said the December transaction to acquire a further 25% of the joint venture from partner Fortescue created the momentum to achieve several important milestones in the year (see Tim Treadgold's Is it iron curtains for small producers?).

The company had a strong quarter "despite a volatile price environment and unseasonably wet weather," Mr Ball said.