Australia-based miner Northern Iron has announced that in the quarter ended on March 31 it achieved a record iron ore output, producing 4.96 million mt from its Bjørnevatn and Kjellmannsasen mines in Norway, up 12 percent compared to the previous quarter.
In the given period, Northern Iron sold 482,000 dry mt of iron ore concentrate, up two percent compared to the previous quarter, with all the cargoes sent to Indian steelmaker Tata Steel. As of the end of the March quarter, the company's iron ore concentrate stocks stand at 95,000 mt.
According to Northern Iron's statement, the average price for the concentrate sales in the given quarter was US$114/dmt FOB Kirkenes, increasing by 28 percent compared to the previous quarter.