Robe River mines less
NZPA . Melbourne The world steel recession took a further heavy toll on Robe River, Ltd. during the three months to March 31. In the company’s quarterly report, the directors said that production of iron ore pellets during the period was 549,000 tons which was less than half the amount produced in the previous corresponding period, while fines produced was down 38.5 per cent to 1.4 M tons. “The downturn in world demand for iron ore continues to influence the shortterm results,” they said. Shipments during the quarter were less than contracted, but negotiations were proceeding with both Japanese and European steel mills “with a view to having this improved.” Despite the lower production and shipments the company continued to trade profitably, the directors said. Total production of iron ore pellets for the year ended March 31 fell 18.5 per cent to 3.5 M tons. Fines production over the same period was down 3 per cent to 8.6 M tons.
Robe’s expenditure on exploration and research during -the latest quarter came to almost SNZIOO,OOO.
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Press, 8 May 1978, Page 18
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177Robe River mines less Press, 8 May 1978, Page 18
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