THE DRILL SERGEANT: Venture Minerals (ASX: VMS) has commenced dry screening and associated mining operations at the company’s Riley iron ore mine in Tasmania.
The dry screening operations at the Riley Mine is part of the ramp-up phase of the project with full production to occur upon successful commissioning of the wet processing plant.
Venture Minerals is eager to accelerate production and capture the current iron ore prices before the wet screening plant has been built and commissioned, reducing capital cost requirements.
“Venture has successfully commenced dry screening operations at the Riley Iron Ore Mine achieving yet another key milestone in the life of the project as it ramps up towards full scale production,” Venture Minerals managing director Andrew Radonjic said in the company’s announcement to the Australian Securities Exchange.
“The iron ore price continues to strengthen, and the company looks forward to delivering the first shipment into this positive demand.
“The increased activity at the Riley iron ore mine continues to provide further economic benefits to the community of the West Coast of Tasmania at a time when it is greatly needed and Venture is proud to be rewarding the support of the people of Tasmania in bringing this to fruition.”