Grange Resources raises output targets for 2012 and 2013
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Australia-based magnetite iron ore pellet producer Grange Resources has announced its results for the quarter ended on December 31, stating that production at the company's Savage River project reached two million metric tons of magnetite iron ore concentrate in 2011. Grange Resources also said that it expects production to be up to 15 percent higher in 2012 and 2013 due to improved mining conditions.
Meanwhile, the company's December quarter production, which was the highest achieved in the past 15 months, was 632,143 mt. Grange also noted that, with increased ore grades at the North Pit in the Savage River mine, the company expects greater production and reduced unit costs in the near future.
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