SOUTH Australian iron ore producer CU River Mining Australia has reached its one million tonne production target in a little over 12 months.
The ore comes from the company’s Cairn Hill mine near Coober Pedy, which CU River reactivated 18 months ago after it had been placed in care and maintenance by former operator Termite Resources. Ninety per cent of its production has been exported through Flinders Ports’ Outer Harbour terminal.
The mine’s restart created more than 60 jobs and CU River was now looking to undertake pit optimisation for expansion into a second pit, and potentially two more pits, subject to government approvals, CU River managing director Yonggang Shan said.
“We’re delighted to have reached this production milestone and plan to settle into ongoing production around 900,000 to 950,000 tonnes per annum,” he said.
“We have offtake agreements with a number of buyers in China and all of our production is presold.
“We anticipate a continuation of our production and have a number of other exploration sites in the Coober Pedy area which we are looking to develop.
“CU River plans to be a longterm player in SA — we are here to stay”.
Alongside Arrium, privatelyowned CU River is one of only two iron ore producers in SA.