Iron ore miner Murchison Metals Ltd
(ASX:MMX) says it mined 458,961 tonnes of ore for the June quarter up 24 per cent on the previous quarter.
Murchison says shipping for the quarter filled seven vessels with a total of 173,193 wet metric tonnes of lump and 190,382 wet metric tonnes of fines exported.
Murchison says the Chinese steel industry showed signs of improvement during the quarter, believed to be mainly due to the Chinese government’s stimulus packages positive impact on construction activity.
Murchison says at June 30 2009 the company was debt free and has cash and liquid investments of $126 million.
Murchison Metals posted a profit in 2008 after losses the four years previous.
