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- GWR Group (GWR) recommences mining operations at its C4 Iron Ore mine in Wiluna, Western Australia
- Mining operations at C4 were suspended in September due to the falling iron ore prices
- However, with the recent price resurgence, the company has confirmed that mining has recommenced at the project
- Plans are already underway for a January shipment of 30,000 tonnes of high-grade lump on a fixed price at US$100 (A$138) per tonne
- On the market this morning, GWR is up 13.5 per cent and trading at 21 cents per share
GWR Group (GWR) has recommenced mining operations at its C4 Iron Ore mine in Wiluna, Western Australia.
Mining operations at C4 were suspended in September due to falling iron ore prices. However, with the recent price resurgence, the company has confirmed that mining has resumed.
GWR said it is well placed to increase volumes in future months if the iron ore prices continue to rise as widely forecast.
While mining operations were suspended, crushing from the ROM pad and hauling to the port continued between October and December, allowing the company to capitalise on a significant inventory of mined iron ore stockpiles that existed up until mining suspension.
GWR successfully negotiated fixed price sale contracts of high-grade lump product in October for 57,859 wet metric tonnes (wmt) and December for 57,150 wmt.
Plans are already underway for a January shipment of 30,000 tonnes of high-grade lump on a fixed price at US$100 (A$138) per tonne, which will include product from C4 and Fe Limited’s JWD mine.
“The GWR team has taken a proactive approach in order to extract value from its
flagship C4 Iron Ore mine and has continued to export iron ore from existing stockpiles
whilst mining was suspended,” Chairman Gary Lyons said.
“We have worked through many challenges over the past few months and I am proud
of what we have achieved in difficult circumstances. The company has recommenced
mining operations in January and will keep shareholders informed of progress.”
On the market this morning, GWR was up 13.5 per cent and is trading at 21 cents per share at 11:29 am AEDT.
