The Australian iron ore exploration company Murchison Metals Ltd (Murchison) has released its operations review for the second quarter of 2008.
Accordingly, in the second quarter of 2008 Murchison registered an 11 percent increase in its mined ore to 456,556 mt, while its crushed ore volume increased by 41 percent to 524,919 mt, both compared to the first quarter of 2008.
Due to road closures caused by heavy rains and problems at Geraldton Port, total ore hauled was below target, at 436,031 mt between Jack Hills and Cue, and at 362,421 mt between Cue and Geraldton port.
During the period in question, Murchison increased its shareholding in Midwest Corporation to 9.98 percent, completed the acquisition of Rocklea Project in the Pilbara iron ore region of Western Australia, and made total cash and liquid investments amounting to $179 million.