GBG
Karara back storyKarara is a joint venture between Gindalbie (47.84%) and Ansteel (52.16%). Ansteel also owns of a 36% stake in Gindalbie.Ansteel operates the project and Gindalbie values its holding in Karara as “nil” due to the current high-gearing of Karara and the iron ore price environment.During the half year ending December 2018, 65 iron ore shipments were made from Karara totalling 3.776 billion dry metric tonnes of combined magnetite concentrate.“Karara was conceptualised during a different and unprecedented time in the global iron ore cycle,” Gindalbie non-executive chairman Keith Jones explained
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