BC Iron: production upgrade

There is a lot to like about iron ore miner BC Iron. Mining a joint venture with Fortescue Metals, the company aims to ultimately produce about 4.5m tonnes of iron ore a year and its costs are relatively low. Cash costs of about $50 a tonne may not match Rio Tinto or BHP but, for a small operation in a business where scale matters, this is impressive. The company even announced better than expected production and expects output to top 3.2m tonnes this year. Low costs come courtesy of geology. BC Iron’s resources are close to surface so rather...

There is a lot to like about iron ore miner BC Iron. Mining a joint venture with Fortescue Metals, the company aims to ultimately produce about 4.5m tonnes of iron ore a year and its costs are relatively low. Cash costs of about $50 a tonne may not match Rio Tinto or BHP but, for a small operation in a business where scale matters, this is impressive. The company even announced better than expected production and expects output to top 3.2m tonnes this year.

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