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The company is also on track to produce at a run rate of 8 million tpy by the end of April, Gindalbie said in a statement on Wednesday April 3.

The Australian iron ore junior dispatched the first shipment of magnetite concentrate in January and has so far exported another four shipments.

Gindalbie has also commissioned more than two thirds of the Karara Concentrator with no material issues encountered.

“If the overall risk profile of the [Karara] project could be compared to the size of an Australian Rules football field, the outstanding risk could be compared to the size of the forward pocket – with the team rapidly closing in on the goal square,” md Tim Netscher said in the statement.