News: BC Iron to hit production target

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BC Iron Limited (ASX:BCI) is on track to hit its 2014 full production target, with the price of iron ore about $US110 per tonne.

 

The Pilbara iron ore miner says its joint venture production target remains at six million tonnes per annum.

 

BC Iron's products are hauled and shipped by Fortescue Metals Group's Limited (ASX:FMG) the Pilbara Infrastructure.

 

 

Joint venture production guidance for fiscal 2013 is on track to be five million tonnes, with BC Iron's equity share to be 3.2 million tonnes.

 

In a presentation to shareholders, Managing Director Morgan Ball said the company continued to have a robust balance sheet and conservative gearing.

 

BC Iron generated a net profit of $7.7 million in the first half of the current financial year.