- Tombador Iron’s (TI1) first shipment of iron ore lump has sailed from the load port in Brazil with just over 38,000 wet metric tonnes on board
- The product was sold through the company’s export marketer, Trafigura, and is now on route to a Northern European steel maker on the MV C Lion vessel
- While Tombador Iron is waiting on the final certificate of analysis, it expects the grade to be more than 65 per cent iron
- Shares in Tombador Iron are down 4.26 per cent on the market, trading at 9 cents at 11:56 am AEST
Tombador Iron’s (TI1) first shipment of iron ore lump has sailed from the load port in Brazil with 38,045 wet metric tonnes onboard.
The product was sold through the company’s export marketer, Trafigura, and is now on route to a Northern European steel maker on the MV C Lion vessel.
While Tombador Iron is waiting on the final certificate of analysis, it expects the grade to be more than 65 per cent iron.
The price of the cargo was based on a fixed price basis in order to capitalise on the current strong iron ore price.
CEO Gabriel Oliva is excited the shipment is on route as it marks an important milestone for the company.
“This is a major milestone for our company. Now that all elements of the operation are under way, we will focus on increasing production and creating a name as a reliable high-grade iron ore producer,” Mr Oliva said.
“We look forward to working with all our partners to continuing the success of this project.”
Shares in Tombador Iron were down 4.26 per cent on the market, trading at 9 cents at 11:56 am AEST.