Arrium posts record shipments in December quarter

Australian miner Arrium shipped a record high of 3.16 million tonnes of iron ore during the December quarter 2013, according to its latest output report on Tuesday February 18.

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Volumes in the fourth quarter were up by 1% from the previous quarter and in line with expectations despite extended periods of adverse seasonal wind and water conditions, the company said.

The average price Arrium achieved for the period stood at $111 per tonne fob Australia, down $2 per tonne compared with the previous quarter, which was due to increased freight rates.

Hematite ore mined in the Middleback Ranges during the quarter totalled 2.24 million wet metric tonnes, up 4% from the previous quarter, while production at Peculiar Knob in Arrium’s Southern Iron operation was 981,000 wmt, up 21% quarter-on-quarter.

Average cash cost loaded on the ship, excluding royalties and depreciation for the quarter was A$49.8 ($45) per wet tonne, slightly higher than the prior quarter due to an increased proportion of the Opal Blend and therefore higher rail costs, the miner said.

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