Venture Minerals Books Sea Journey for Riley Mine Iron Ore

THE BOURSE WHISPERER: Venture Minerals (ASX: VMS) has booked passage for the company’s first iron ore shipment from its Riley iron ore mine in Tasmania for early September.

Venture Minerals made the announcement on the back of commissioning of the Wet Screening Plant at the Riley iron ore mine having been completed with the Wet Screening Plant now fully installed and fully operational.

Due to the completion, 24-hour processing is now underway, with Venture achieving Stage One of steady state production.

Completion of commissioning of the Wet Screening Plant has also enabled continuous ore haulage from the Riley mine to the Port of Burnie where it is waiting to be loaded once the bulk carrier vessel with a capacity of 46,000 tonnes arrives.

The vessel is scheduled to be loaded over four days before departing to the discharge port as designated by the company’s off-take partner, Prosperity Steel, one of the largest iron ore traders in the world.

“Through the now completed commissioning of the plant, Venture already has a significant stockpile of iron ore ready to ship,” Venture Minerals managing director Andrew Radonjic said in the company’s ASX announcement.

“The achievement of steady state production and consequently continuous ore haulage has enabled the company to immediately charter a bulk carrier vessel to load and deliver the first shipment.

“This marks a major milestone for Venture as it transitions from a highly successful explorer to producer.”