Australian Karara project targets June 2012 for first magnetite

Platts reports that Gindalbie Metals (ASX:GBG) expects the first magnetite concentrate shipment in June 2012 from its Karara iron ore project.

The market news is quoted as saying,

The company is targeting 8 million mt/year of magnetite concentrate output. Together with a 2 million mt/year hematite direct shipping ore production, Karara’s Stage One developent will have a scale of 10 million mt/year. The Karara project, located 200 km east of Geraldton Port, has produced approximately 580,000 mt of hematite direct shipping ore, or DSO, so far from the Karara South and Karara East pits, the company said.

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