October 29th, 2012

Gindalbie heralds first Karara shipment

The West Australian, 18 October 2012

¬†Gindalbie Metals says it has sent the first commercial shipment of iron ore from its Karara project in the State’s Mid West.

The maiden shipment aboard the M.V.Jai Tai Panamax vessel from Geraldton port comprised of about 58,000 tonnes of hematite.

Loading was completed yesterday afternoon and the ship departed Geraldton on last night’s high tide, bound for China.

Gindalbie heralded the shipment as a milestone for the company and the first time the integrated mine, rail and port logistics chain servicing the project had been utilised.

Gindalbie’s managing director Tim Netscher said the milestone represented an important source of early cash flow and would give the company a chance to focus on magnetite concentrate commissioning and ramp-up.

Production and shipments from Karara are expected to ramp up to an annualised rate of 2mtpa by the end of the year.

The new Karara Export Terminal at Geraldton port comprise of a dedicated berth and 5000tph ship-loader, a 255,000t storage facility and a twin-car rotary dumper for train unloading.

The new terminal is capable of handling up to 16mtpa, which is sufficient for stage one and the anticipated stage two of the Karara project.

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© Western Australian Newspapers Limited 2012

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