Gindalbie Continues Ramp Up at Australian Iron Ore Project

Australia-based Gindalbie Metals Ltd. (ASX:GBG) announced that it loaded its tenth shipment of hematite direct shipping ore (DSO) as part of the ongoing ramp up at its 50-percent-owned Karara iron ore project.

As quoted in the market news:

When the M.V. King Pearce departs it will bring the total iron ore shipments from the Karara Project to date to approximately 580,000 tonnes in less than six weeks of operation at the Karara Export Terminal.

The successful ramp-up of the infrastructure chain has successfully de-risked a major part of the Karara Project ahead of the expected start of magnetite concentrate shipments by late December 2012 or early January 2013. Until that time and thereafter as the magnetite concentrate shipments ramp up, DSO shipments will continue using Karara’s stockpiles of approximately 1.5 million tonnes of DSO, supplemented by ongoing DSO production.

Click here to read the full Platts report.