Grange Resources Says September Quarter Production Falls at Tasmania Project; Shares Rise 11%

MT Newswires Live

10/28

Grange Resources (ASX:GRR) said the concentrate produced for the quarter ended Sept. 30 at its Savage River operations in Tasmania fell to 583,490 tonnes, according to a Tuesday filing with the Australian bourse.

The company produced 668,202 tonnes last year, an earlier filing showed.

The company sold 52,804 dry metric tonnes (dmt) of iron ore chips during the quarter at an average realized price of $133.44 per tonne, down from 34,858 dmt at $121.64 per tonne the previous year.

The company's operations were impacted by severe weather events in late August and early September, impacting movement rates in the mine, the filing added.

It expects to make a final investment decision on the project in the coming months.

Shares of Grange Resources rose nearly 11% in recent Tuesday trade.

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