Melior Resources says progress is ahead of schedule at its Goondicum ilmenite mine near Gladstone in Central Queensland.
In a report to the market released today, Melior Resources said commissioning and production ramp-up at Goondicum remained “ahead of plan”.
It said its December production of 3420 tonnes of ilmenite was almost three times more than it had budgeted for.
Melior said it planned to transport its first load of ilmenite to the Port of Gladstone this month, with the first shipment expected to leave Gladstone in the first quarter of the year.
While apatite production of 189 tonnes was below expectation, Melior said it expected that to improve and that the first sale of apetite had been completed last month.
“We are delighted that project commissioning continues to exceed budget and we are well on track for full commercialisation by the (end of June),” chief executive officer Mark McCauley said.
“We look forward to achieving a key milestone with our first shipment later in the first quarter.
“Ilmenite prices continue to be robust and we anticipate strong metrics for the company and shareholders as we achieve full production later this year.”