Ivanhoe Australia Limited (ASX:IVA) has today announced first production of copper and gold at its Osborne processing facilities in Queensland.
CEO Peter Reeve says it’s an important first step in what the company envisages will be a strong cashflow stream for 15 to 20 years.
Production at Osborne is expected to be up to 900,000 tonnes of ore this year and up to 2 million tonnes by 2013.
In the half year ended the June 30, 2011 Ivanhoe Australia reported a net loss of $16.6 million.
