Company News Summary
Gindalbie Metals Provides June 2012 Quarterly Activities Report
Original announcement: Quarterly Activities Report
Gindalbie Metals provided its June 2012 quarterly activities report, reporting that a total of $2.23bn has been spent on the development of the Karara project against the budget of $2.57bn. Australian content currently makes up more than 91% of the construction cost including $1.7bn spent in WA and $221.0m in the Mid West region. The key focus remains the completion of structural steel, mechanical, piping and electrical and instrumentation installation on the Karara magnetite processing plant, where progress during the quarter has been significant. The 330kV power transmission line connecting Karara with the State power network has been completed and has been energised, providing grid power to the Karara site. In addition, the Karara rail spur has been commissioned and ore haulage to Geraldton Port is scheduled to commence in July 2012.
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