Hamersley ore output down

Press, 3 May 1984, Page 22

Hamersley ore output down

AAP Melbourne Iron ore output by Hamersley Iron fell 27 per cent in the first three months of 1984 and the coking coal production from Kembla Coal and Coke and base metal production from the Broken Hill mines was also lower, said CRA, Ltd, the United Kingdom mining conglomerate, in its latest production report Saleable ore production by Hamersley (93.7 per cent owned by CRA) fell 272 per cent to 72M tonnes in the first quarter compared to the corresponding 1983 period and 7.5 M tonnes in the December, 1983, quarter. Iron ore shipments rose 23.5 per cent to 8.7 M tonnes last year and 8.5 M tonnes in the December quarter. Hamersley’s chairman, Mr Tom Barlow, said at the annual meeting last month that profits this year would be reduced because of a 25 per cent cut in prices over two years and a strong local dollar. Mary Kathleen In a separate statement, the chairman of the 51 per cent CRA-owned Mary Kathleen Uranium, Mr J. L. Liebelt, said earnings in 1984 were expected to be ‘‘considerably below" the last year’s SII.BM profit be-

cause" of lower prices and a less favourable exchange rate with the United States dollar. The date for winding up Mary Kathleen would not be known until the Queensland Government was satisfied that the rehabilitation of the mine area was complete. Argyle diamonds Production from the Argyle diamond deposit in Western Australia in which CRA has a 56.8 per cent interest, rose 133 per cent in the first three months of 1984 to 1.5 M carats, but fell when compared to the later quarters of fast year. The output from the alluvial deposits was more than double the 641,924 carats recovered in the first quarter of 1983 when commercial production began by the joint venturers. CRA, the operator of the consortium, said the increased production was because of a doubling in capacity at the alluvial treatment plant, which took effect from the second half of last year. The extended wet season prevented any exploration work in the region during the early part of 1984. The diamond recovery rate from the alluvial deposit may now be on a plateau based on a comparison with the latter quarters of 1983, CRA said. The other partners in the Argyle project are Ashton Mining with 38.2 per cent and the Western Australian Government subsidiary, Northern Mining Corporation, with a 5 per cent stake.