【Ferro-alloys.com】:Australian iron-ore miner Mount Gibson is on track to meet its 2024 guidance, having shipped 0.7-million wet metric tonnes of high-grade iron-ore fines from Koolan Island in the March quarter.

The shipping performance was achieved despite the impacts of wet season rainfall interruptions in the March quarter, which at times inhibited mining and processing activities, as well as fly-in, fly-out personnel transport.

In late March, shipping movements were also impacted by loading delays for one vessel, which has been temporarily relocated to nearby anchorage for stowage adjustments, with loading in the next queued vessel almost complete for imminent departure. The company is guiding shipments of 3.8-million to 4.2-million wet metric tonnes for the 2024 financial year.

Meanwhile, given the shipping performance and the premium prices it receives for its high-grade iron-ore fines products, Mount Gibson’s cash and investment reserves further increased during the March quarter, closing the period at A$430-million. This compares with A$358-million at the end of December 2023.

Mount Gibson’s high grade 65% Fe Koolan Island fines products are currently realising around $111 a dry metric tonne (dmt) for delivery in China (CFR basis), reflecting an Australian dollar price of about A$170/dmt CFR and a 7% grade-adjusted premium to the 62% Fe benchmark iron-ore price.

• [Editor:Alakay]