Venture Minerals Ltd (ASX:VMS) (OTCMKTS:VTMLF) has taken large strides towards commissioning the Wet Screening Plant at its Riley Iron Ore Mine in northwest Tasmania with various stages of the installation phase nearing completion.
Commissioning of the Wet Screening Plant is expected to begin within the next two weeks and the first ore shipment remains on track for the current quarter.
Venture Minerals continues to prepare for operational start-up in anticipation of construction completion with the company recently having executed agreements with Launceston-based Shaw Contracting for mining and processing, as well as other Tasmanian businesses for the supply of fuel to the site and hire of the power station.
“Iron ore shipment on track”
Managing director Andrew Radonjic said: “Venture’s Riley development team continues to work hard to meet the installation schedule with the plant only two weeks away from starting commissioning.
“This timing puts the first iron ore shipment on track for this quarter and puts the company in a strong position to take advantage of the historically high iron ore prices.”
In addition, the Riley Development Team continues to expand with key appointments, all of which are sourced predominately from nearby communities.
Iron ore prices have been strong throughout 2020 and into 2021 with the outlook for the rest of this year remaining positive due to continued demand generated by Chinese Government infrastructure spending and ongoing supply concerns from Brazil.