Toronto, Ontario-based mining company Moly Mines Limited announced Monday that it has confirmed the booking of a vessel for the maiden iron ore shipment from the Spinifex Ridge Iron Ore Project in Port Hedland, Australia. The vessel will arrive in Port Hedland on December 27, and is expected to set sail before the end of the calendar year. The shipment will carry up to 55,000 metric tons (mt) of iron ore fines at a forecast grade of 59 percent iron.
Shipment sizes will increase over the next 12 weeks as the mine production rate ramps-up and commissioning of the company's stockpiling facilities at Utah Point is completed.