Quarterly Activities Report – Sept Qtr 2013

Highlights

Coal

  • During the quarter 379,936 tonnes of coal produced from the Delta Coal mine – AJM share 126,645 tonnes.
  • Contractors have mobilised new mining fleets to increase the coal production rate by the end of 2013.
  • Production during the month of September in line with target of 1.75 million tonnes per annum rate.

Iron Ore

  • Decision to proceed to mine allows for development of this valuable iron ore project.
  • Initial ore to be stockpiled in December quarter as part of the mine development phase with first ore sales planned for Q2 2014.
  • Altura entitled to 30% of production (initially 900,000 tonnes per annum) with a projected annual revenue stream of $100 million at current prices and exchange rates.
  • Agreements in place to allow mining, transporting and sale of Altura’s share of product via Atlas Iron infrastructure.
  • Atlas provided finance package in place to cover Altura’s capital expenditure commitments.
  • Recent upgrade increases Ore Reserves at the Mt Webber JV by 14%.

Lithium

  • Mining Lease application process continues and water monitoring bores installed.
  • Altura continues search for off-take partner to develop world class Pilgangoora project.

 

Further Details

 

Posted in 2013 ASX