Gindalbie Metals completes second iron ore shipment

Company News

Gindalbie Metals Limited (ASX:GBG) has despatched the second shipment of iron ore from its Karara project in Western Australia.

The shipment comprised 55,000 tonnes of ore bound for China, following last weeks maiden shipment of 58,000 tonnes.

The company expects to commence loading a third shipment of 60,000 tonnes later today.

CEO Tim Netscher says loading times had improved and the steady rate of shipments demonstrates better than expected efficiency at the Karara Export Terminal.

Mr Netscher says Gindalbie will complete four shipments this month, thereby creating a good production foundation for the project.

Gindalbie Metals posted a $27 million loss for the 2012 financial year.