BC Iron s Nullagine operation.
BC Iron's Nullagine operation.

UPDATE 1.40pm: BC Iron has reaffirmed its full year sales guidance for its Nullagine joint venture project with Fortescue Metals Group.

BC Iron said this morning it expected sales from the Pilbara mine to be up to 6.2 million tonnes in the 2013/14 financial year.

More than 1.5 million tonnes of ore were shipped from the project during the three months to December, with one shipload delayed by Tropical Cyclone Christine late in the quarter.

"The NJV (Nullagine joint venture) recorded another strong sales quarter, despite the early commencement of the wet season and some operational challenges for mining and crushing," BC Iron managing director Morgan Ball said in a statement.

Mr Ball said BC Iron continued to generate strong operational cash flows and ended December with a cash balance of $197 million, after repaying further debt ahead of schedule.

BC Iron shares closed down 13 cents, or 2.54 per cent, at $4.99.

The West Australian

Popular videos

Our Picks

Follow Us

More from The West