GWR Group Limited (Golden West Resources)
GWR Group Limited (Golden West Resources)
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West Australian company CuFe is continuing close discussions with key contractors on the potential restart of full operations in Jan 2023 at its 60%-owned JWD iron ore mine.
CuFe says it has established the base for a rapid ramp-up at the high-grade direct shipping ore deposit, with key plant retained on site and blasted stock available in the pit. A decision on the restart will rest on continued improvement in iron ore pricing.
A NW Tasmanian project area containing Australia’s third-largest magnesite inventory is emerging as a priority project for miner GWR.
The Prospect Ridge project, 55km SW of Burnie, contains the Arthur River and Lyons River deposits with an existing JORC inferred resource of 25Mt @ 42.4% MgO to 100m depth.
After leading a recent technical team visit, founding director Mick Wilson noted many similarities between Prospect Ridge and GWR’s high-grade C4 iron ore mine at Wiluna in WA.
West Australian miner GWR is eyeing opportunities to add a second monthly export shipment after resuming full mining operations at its flagship high-grade C4 iron ore mine at Wiluna.
Chairman Gary Lyons says the company has taken advantage of the opportunity to refine its operations focused on cost reduction and fixed price contract shipments, which now cover much of its 2022 production.
With an additional 20Mt available in C4, the company is taking advantage of alternative markets such as Malaysia and Indonesia besides China.
With suspension of mining operations at its 100%-owned C4 iron ore mine in Wiluna, West Australian miner GWR shipped a total 115,009wmt high-grade lump product during the Dec qtr (Q2FY22), down from 334,840t in the previous period.
Mining operations recommenced in Jan 2022 to meet fixed price contracts signed subsequently for 145,000t in Jan-Feb on FOB basis.
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.
West Australian iron ore miner GWR has taken advantage of recent price increases by restarting mining at its 100%-owned C4 high-grade mine in Wiluna to meet 145,000t lump product fixed price FOB sales contracts negotiated for Jan-Mar.
The company plans a Stage 2 cutback that will expose about 2Mt high-grade product, much of it blasted prior to scaling back operations in Sept 2021. Combined with savings from a comprehensive costs review and fixed sale pricing, GWR is eyeing further volume increases if the iron ore price rises further.
West Australian iron ore producer GWR has continued crushing and haulage of mined ore stockpiles from its 100%-owned C4 mine at Wiluna West while extending its suspension of mining due to falling commodity prices.
GWR says, while it considers its options in relation to price volatility, it has negotiated fixed price sales contracts to capitalise its significant stockpiled inventory.
West Australian iron ore hopeful Macarthur Minerals is continuing development planning for its Ularring DSO project while it waits with other small-scale producers and other developers for global prices to stabilise.
At least three WA operating mines have been suspended in the last week after prices plunged from over $US200/t to around $120/t within two months One, GWR Mining’s Wiluna West, features in Macarthur’s planning through a 400,000tpa mine gate purchase agreement reached in July.
Plunging global iron ore prices have forced the shutdown of a second Australian mine, with GWR Group suspending its C4 mine at Wiluna West in WA for 30 days while it considers its future.
GWR says the mine will remain production-ready pending a price recovery, with 172,500t on the ROM pad or crushed and stockpiled ready for haulage to port. A further 143,000t ore at 61.8% Fe grade remains broken and ready to be dug from the pit.
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.