Australian iron ore development company BC Iron Limited has announced that in the quarter ended on March 31 it produced 950,000 mt of iron ore, down 30 percent compared to the previous quarter.
During the March quarter, BC Iron shipped 1.22 million wet mt of iron ore from its Nullagine JV, decreasing by 20 percent compared to the previous quarter, but exceeding the wet season shipment guidance of 1.13 million wet mt.
BC Iron has maintained its direct shipping ore sales guidance for the financial year 2013-14 at 5.8-6.2 million mt, while the company has lowered its capital expenditure guidance from A$20 million to A$15 million due to the deferral of certain expenditure until the financial year 2014-15.