IRC Limited Reports Group Production and Sales Results for the Fourth Quarter and Full Year Ended December 31, 2013; Provides Production Guidance for Full Year of 2014
For the full year, the company resulted in a 6.5% increase in iron ore production to a record 1,032,615 tonnes and a 20.3% increase in ilmenite production to 150,458 tonnes. Full year sales also reached, up 3.3% for iron ore to 1,012,433 tonnes compared to 980,543 tonnes and up 16.8% to 141,644 tonnes compared to 28,084 for ilmenite in the same period lat year.
The company production targets for 2014 are maintained at plant capacity levels of 900,000 tonnes of iron ore and the upgraded 160,000 tonnes of ilmenite. Whilst iron ore production exceeded this level during 2013, it is a consequence of the plant achieving above capacity, and therefore, it is considered prudent to set targets in-line with nameplate capacity.