Iron ore shipping ...I like it !
The international resource journal
In iron ore production
Moly’s iron ore production today is, according to Fisher, a fairly simple operation aimed at mining and chipping a million tonnes of iron ore per annum. It was commissioned approximately two weeks ago and already the company is trucking between 2,500 and 3,000 tonnes of iron ore per day into Port Hedland.
“It’s an open pit mine, then we crush the ore and screen it —we’re going to be only producing an iron ore fine product,” Fisher says.
“After it’s crushed and screened it’s then trucked into Port Hedland to the new Utah Point facility and all that process is underway and working successfully at the moment.”
Upon commencing mining, Fisher told press that at current iron ore prices, the project would be cashflow effective immediately. Since then, more good news has flooded in and the company plans to have its first shipload of iron ore leaving Port Hedland shortly after Christmas— the ship is booked for between the 24 and 29 December. Meanwhile, expansion of the current resource base continues.
“Our pit design captures about five million tonnes of the seven million tonnes resource that we have,” Fisher says.
“There is another two million tonnes below the pit as it is currently designed, and if iron ore prices stay up we’ll certainly take the pit deeper and grow to that two million tonnes.”
Moly is also weighing up other iron ore opportunities in Western Australia and further afield, and Fisher says that with the support of the company’s new major shareholder as of April 2010, Hanlong Mining Investment Pty Ltd (Hanlong), he believes the iron ore mining side of Moly Mines will expand significantly. In addition to supporting this future growth, Hanlong will be instrumental in bringing on the Spinifex Ridge molybdenum-copper project; which will be the first such greenfields project to come into action in 25 years.
“And, with some of the other things we’re planning in iron ore, there will be other significant changes in the company.”
https://www.internationalresourcejournal.com/resource_in_action/january_11/iron_ore_production_with_moly-copper_to_follow_2011_is_the_moly.html