CuFe Limited (Fe Limited)
CuFe Limited (Fe Limited)
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West Australian miner CuFe has posted the first shipments of 119,804wmt high-grade lump iron ore from its 60%-owned JWD direct shipping ore mine in the Dec qtr (Q2FY22), taking advantage of rising index prices and lump premiums as well as lower sea freight rates.
The company completed a successful trial of a higher-payload ultra-quad road train to Geraldton as part of a longer-term initiative to reduce transport costs.
The sustained rebound in iron ore prices from their late-2020 declines have encouraged the West Australian operators of two small-volume, high-grade mines to bring them back into mine production.
Firming iron ore prices and decreasing sea freight rates have encouraged West Australian miner CuFe to restart mining of its 60%-owned JWD direct shipping ore project at Wiluna West.
After pausing mining activities in the Dec 2021 qtr to reduce mined ore stock and preserve working capital amid softer prices, exec chairman Tony Sage says CuFe is poised to benefit from stronger prices.
CuFe’s next shipment will load in late Jan for a new customer in SE Asia.
Global trading house Glencore has teamed with Australian miner Fe, signing an exclusive $US7.5M prepayment and offtake agreement for life of mine lumps and fines production from its ramping JWD iron ore DSO project at Wiluna West in WA.
Under the agency-style agreement, Glencore will pay for purchases up-front and work together with Fe to optimise sales through its global distribution network as well as end-users known to Fe.
West Australian iron ore developer Fe is set for an immediate start of ore haulage from its 51%-owned JWD project at Wiluna West after executing access and storage agreements at Geraldton port and finalising its board and JV approvals.
The 12-month port agreement, with two further 12-month options, allows for the export of 800,000tpa of JWD product through Geraldton’s iron ore berth 5.
West Australian iron ore developer Fe has signed an innovative haulage contract with experienced operator David Campbell Transport as it nears first saleable product this week at its 51%-owned JWD project at Wiluna West.
Exec chairman Tony Sage says the contract has a fixed haulage rate for 6 months, then a floating rate based on realised iron ore prices that rewards the contractor in strong markets but protects the miner by reducing costs if markets decline.
On-site early works are due to start by end-April at West Australian developer Fe’s 51%-owned Wiluna West JWD iron ore project, with mobilisation of the full mining fleet expected in early May upon a formal decision to mine.
Exec chairman Tony Sage says West Australian prospective iron ore developer Fe has largely completed the permitting process for its 51%-owned Wiluna West JWD project with the formal notification of works approval by the state’s Water and Environmental Regulation department.
The grant of works approval facilitates the construction of the crushing and screening plant and associated infrastructure on site at its near-term high-grade DSO hematite project in the Pilbara region 700km NE of Geraldton.
Prospective iron ore producer Fe has advanced its planning for the commencement of early works activities and issued a letter of intent with newly established contractor Big Yellow for its 51%-owned West Wiluna JWD direct shipping ore project in Western Australia.
The Tony Sage-led company says Big Yellow, founded by experienced mining executives Brad Gordon, David Edwards and Mitch Wallace, is a good fit with its own aspirations.
The withdrawal of Australian explorer Fe from its earn-in agreement over gold, copper, lithium and iron projects held by Macarthur Minerals in WA’s Pilbara region does not appear to have dampened general enthusiasm for the region’s conglomerate-hosted potential.