The Rixon news feed is a great way to catch-up on what has been happening around WA. We regularly update our feed with a collection of market and property related articles from a variety of news sources.
Fortescue Metals Group is preparing to meet changing Chinese demand for iron ore with its new West Pilbara Fines product.
In light of recent falling iron ore spot prices, there has been an increasing trend among Chinese iron ore buyers for lower- and mid-grade product.
The iron ore spot price for high grade 62 per cent fines has plunged in the past two weeks from $US72.50 ($98.62) to $US63.74 in part due to a growing Chinese preference for lower-grade ores for steel manufacture.
Northern Star internal contractor Northern Star Mining Services (NSMS) has delivered the highest ore recovery in the life of the Kalgoorlie gold operations within two months of installing Minnovare’s drill and blast technology.
The operation achieved 100 additional drill metres per day, resulting in around 3.5 per cent reduction in stope turnover time.
This improvement brings around 5000 additional ounces and $8.4 million additional revenue at the current gold price when rated over a 12-month period.
