Baffinland Iron Mines (BIM-T) reported test results of a fine iron ore trial batch from large German steelmaker ThyssenKrupp. The 28,000 tonne of fine iron ore was mined at Baffinland’s Mary River iron project.
About 10% of the sinter feed consisted of Mary River iron ore, resulting in a 4.5% increase in sinter productivity, while sinter quality was judged excellent. ThyssenKrupp now intends to test more Mary River ore.
Baffinland has also shipped lump iron ore to another giant steelmaker, multinational ArcelorMittal (MT-N). So far, only a small portion of the lump iron ore has been tested, but reportedly with excellent results.
On the news Baffinland shares rose 0.5¢ to 42¢. The shares have been trading in a 10.5¢-$3.65 over the past 12 months. The company has 233 million shares outstanding.
Be the first to comment on "Baffinland reports positive iron feed test from steelmakers"