IRC Limited exceeds iron ore production target for 2012

Hong Kong-listed IRC Limited (IRC) has announced that as of December 20 its iron ore production in the current year has reached 820,000 mt, exceeding the 2012 target with production still ongoing.
 
IRC is anticipated to produce an additional 120,000 to 140,000 mt before the year-end. An approximate 15 percent increase over the original target is expected by the year's end.
 
According to IRC, ongoing improvements in production rates and efficiencies at the Kuranakh Mine in Russia's Far East have enabled the company to beat its own forecasts. IRC's annual production capacity will increase fourfold once the new K&S Mine, located near the Trans-Siberian railway, commences production.