The West

Trucks at the Karara magnetite project. Picture: Claire Tyrrell/The Countryman.
Trucks at the Karara magnetite project. Picture: Claire Tyrrell/The Countryman.

UPDATE 1.15pm: Shares in Gindalbie Metals were firmer after the iron ore miner announced first magnetite concentrate production from its Karara project in the State's Mid-West.

Gindalbie said the product represented the beginning of a six-month ramp-up towards its targeted production of 8mtpa.

The first fully commercial shipment of magnetite concentrate is expected by late December or early January.

Gindalbie managing director Mr Tim Netscher said work was now continuing in earnest to fully complete all sections of the concentrator plant and to get production ramped up to a steady-state level.

"Production of magnetite concentrate from Karara is not only a great milestone for the company, but also for the state of Western Australia," he said.

"We are taking low-grade iron ore (36 per cent Fe) and through downstream processing turning it into a high value premium (68 per cent Fe) iron product, opening up a whole new export market for the State."

Karara is a 50/50 joint venture between Gindalbie and Chinese steelmaker Ansteel, which also has a 36 per cent stake in the company.

Gindalbie shares closed up one cent, or 3.39 per cent, at 30.5 cents.

The West Australian

Latest News From The West

Roy Hill boss Barry Fitzgerald says the iron ore producer will be looking to recruit another 500-600 mineworkers over the next 18 months as the company ramps up its Pilbara operations.

The teenager alleged to have been the main methamphetamine supplier to Northam has been released from prison to live in a hostel in Perth, despite a magistrate expressing her shock at the …

Colin Barnett has provided strong endorsement of the WACA’s plans to redevelop its ground to complement the new Perth Stadium despite saying that no request for funding has been received by the …

Perth’s deputy lord mayor James Limnios last night called for free parking on Langley Park for up to 2000 cars in the second half of this month in a bid to attract more shoppers to the city.

WA has scored another major sporting coup with a blockbuster rugby union Bledisloe Cup clash between the Wallabies and All Blacks to be played at the new Perth Stadium.

Popular videos