Australia's Mineral Resources said Wednesday it produced 1.95 million wet mt of iron ore over July-September, edging down 1% year on year and rising 7% from the previous quarter.
The total included first production from its recently acquired Koolyanobbing assets, the company said.
Mineral Resources completed the acquisition of the Koolyanobbing iron ore assets in the Yilgarn region of Western Australia from Cleveland-Cliffs in the September quarter. The mine contributed 92,000 wmt to the September quarter total and exports were slated to begin in the current December quarter, the company said.
The company's Iron Valley mine in the Pilbara region of Western Australia produced 1.86 million wmt of iron ore in the September quarter, down 6% on year and up 2% from the previous quarter, and was running above nameplate capacity in the period.
Shipments from Iron Valley totaled 2.12 million wmt, up 37% on year and up 33% from the June quarter.
"The demand for fines improved at the end of the quarter, allowing stockpiled fines to be exported," Mineral Resources said of Iron Valley's performance.
"The low grade iron ore business remains marginal, with growing impurities making it challenging. Management continues to monitor the iron ore operations closely," it added.
Mineral Resources targets shipping 10.28 million wmt of iron ore in the current 2018-19 (July-June) fiscal year, after shipping 9.3 million wmt in the fiscal year to June 30 and 12.27 million wmt in the previous fiscal year, the company said earlier.
