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    Venture Minerals charters bulk carrier for first iron ore shipment at Riley

    Venture Minerals Limited (ASX: VMS) reports that it has chartered a bulk carrier for its first iron ore shipment from the Riley Iron Ore Mine in North-West Tasmania, with loading at the Port of Burnie expected to commence on the 6th of September.

    The 46,000 tonne Ultramax will be loaded over a four day period, before departing for delivery to offtake partner Prosperity Steel United Singapore at its designated port in China.

    Steady-state production achieved

    Venture reports that commissioning of the company’s wet screening plant is now complete, resulting in the company reaching stage one of steady-state production.

    This has resulted in 24-hour processing along with continual road haulage to Burnie, with the company agreeing to terms on haulage and port services with Australia’s largest export logistics specialist Qube Holdings.

    Venture has placed a focus on continual process improvements, recently hiring experienced plant metallurgist Johan Welmans to oversee ore processing operations as it moves to increase output from one to two shipments per month.

    The achievement of steady state production and consequently continuous ore haulage has enabled the Company to immediately charter a bulk carrier vessel to load and deliver the first shipment”

    Management comments

    Venture Minerals Managing Director Andrew Radonjic said: “Through the now completed commissioning of the plant, Venture already has a significant stockpile of iron ore ready to ship. The achievement of steady state production and consequently continuous ore haulage has enabled the Company to immediately charter a bulk carrier vessel to load and deliver the first shipment. This marks a major milestone for Venture as it transitions from a highly successful explorer to producer.”

    Images: Venture Minerals Limited
    Jonathan Norris
    Jonathan is a founder of Mining.com.au and has been covering the resources industry since 2018. With over 17 years experience in print, broadcast and online media, Jonathan has seen first hand the transformative effect of online niche media.

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    • Delayed Prices (USD) - Last Updated 27-06-2022
    • Gold $1,826.40
    • Silver $21.14
    • Platinum $908.00
    • Palladium $1,802.00
    • Dalian Iron Ore i2209 $113.98
    • Aluminium $2,456.00
    • Cobalt $72,400.00
    • Copper $8,381.00
    • Lead $1,915.00
    • Nickel $22,400.00
    • Tin $24,590.00
    • Zinc $3,350.00