Michael Minosora’s Atlantic has shipped the first iron ore fines produced at its Windimurra vanadium and iron development in the Mid West, signing a sales contract with an unnamed Chinese buyer.
Atlantic said today the shipment of 30,000 wet metric tonnes would leave Geraldton Port by the middle of the month.
Hematite iron ore fines are a by-product of the vanadium production process and Atlantic plans to sell regular shipments subject to favourable iron ore prices.
Atlantic said the mine hosts a 1.8 million tonne stockpile of 52 per cent ferrous hematite iron ore fins.
AT full capacity, the mine will produce around 1 million tonnes of iron ore fines each year.
Atlantic shares finished the day’s trade steady at 2.4 cents.