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Strike ramps up Peruvian iron ore production

Sumary of Strike ramps up Peruvian iron ore production:

  • File Share to FacebookShare to TwitterEmail UsCopy the Link Strike Resources is set to ramp up production at its Apurimac iron ore project in Peru where the ASX-listed company has already stockpiled more than 20,000 tonnes of high-grade iron ore that is now ready for shipping…
  • Strike has set its sights on a first-year production target of 125,000 tonnes but will look to expand its output from the mine as development proceeds in the coming months…
  • The high-grade, direct shipping ores that are currently being mined at Apurimac come from one of the largest and highest-grade magnetite deposits in the world…
  • The project boasts a colossal resource of 269.4 million tonnes grading at 57.3 per cent iron, with exploration showing the potential to extend the deposits along strike…
  • Strike is examining a number of development options for the world-class project, however the allure of the outcropping ore, grading at over 64 per cent iron, has encouraged a move into a modest scale of production…
  • With iron ore currently trading at more than US$168 a tonne and Strike looking at an all-up mining, processing and transport costs of around US$70 a tonne, the company is set to pocket close to US$98 per tonne which is sure to get punters reaching for their calculators…
  • At the current production rate of 125,000 tonnes per annum, this equates to over $15 million a year potentially filtering into the company coffers to fund ongoing exploration and development in both Australia and South America, providing a welcome cash boost to the budding miner…
  • Strike looks forward to replicating this operation several times across different deposits and community groups so we can progressively ramp up production whilst providing sustainable economic employment opportunities for local community members…
  • Whilst the Company remains firmly focussed on developing Paulsens East in the Pilbara into production, current market conditions have provided an opportunity to generate additional valuable cashflow from a mining operation at our Apurimac Project in Peru as well….

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