Gindalbie makes first Karara magnetite shipment

Company News

Gindalbie Metals Limited (ASX:GBG) has made the first magnetite concentrate shipment from its Karara Iron Ore Project in Western Australia.

The 55 thousand tonne shipment was completed on New Year’s Eve and set sail yesterday bound for China.

Gindalbie says commissioning of the Karara Concentrator plant is progressing well, with production rate and concentrate quality increasing alongside its ramp up plan which was developed months ago.

The Iron Ore company says the efficiency of its Karara logistics chain continues to perform efficiently and above expectations.

Gindalbie Metals reported a $27.2 million loss in the 2012 financial year.