BC Iron Limited
(ASX:BCI) expects to achieve its full year sales guidance for its Nullagine joint venture with Fortescue Metals Group Limited
(ASX:FMG), despite some operational challenges.
The miner reaffirmed its guidance, saying it will work to rebuild stockpiles after an early start to the wet season and some operational hurdles impacting mining and crushing.
BC Iron says it expects sales from the Pilbara mine to come in between 5.8 and 6.2 million tonnes in fiscal 2014.
Over 1.5 million wet metric tonnes of iron ore were shipped from the project during the December quarter, with one shipload delayed by Tropical Cyclone Christine towards the end of the calendar year.
Managing Director Morgan Ball says the company can report strong operational cash flows, ending December with a cash balance of $197 million, after repaying further debt ahead of schedule.
BC Iron delivered a full year net profit of $48.8 million.
