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