Australia-based magnetite iron ore pellet producer Grange Resources has announced its production results for the quarter ended June 30, 2012.
In the given quarter, Grange produced 606,929 mt of iron ore concentrate, up 21 percent compared to the corresponding quarter of the previous year from the Savage River mine in Tasmania.
The company also reported an increase in its iron ore pellet production for the same period. Grange's iron ore pellet production amounted to 585,450 mt, up 12.4 percent year on year. According to the company, the pellet production guidance for the year remains between 2.3 to 2.4 million mt.
Grange stated that in the second quarter pellet prices remained strong, averaging US$146.24/ mt FOB Port Latta. Total sales revenues for the quarter were A$62.5 million. At the end of the June quarter, the company had A$39.6 million in cash and term deposits.