17/04/2012 - 14:13

BC Iron reports record quarterly production

17/04/2012 - 14:13

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BC Iron has reported record tonnes mined and shipped for the three months ending March 31, with the Perth-based miner saying it is on track to ship more than 3.5 million tonnes of iron ore over financial year 2012.

The company today reported it had mined 809,753 tonnes of iron ore, while it shipped 1.03 million tonnes over the quarter, achieving an average price of $US124 per dry metric tonne.

The miner said it had shipped 2.1 million tonnes to date this financial year.

“The company has been able to maintain overall production forecasts without any major disruptions to operations despite significant rainfall and two cyclones during the Pilbara wet season,” BC Iron said in a statement.

“During the quarter, the Nullagine joint venture achieved an instantaneous production rate of 4.1Mtpa.

“This rate continues to improve and the joint venture is on target to reach the forecast production rate of 5Mtpa by the end of FY2012.”

At close of trade today BC iron stocks had lost 2.7 per cent, trading at $2.82. 

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