Iron-ore junior CuFE has announced the restart of mining at the JWD iron-ore mine, in Western Australia, with offtaker Glencore set to assist in funding working capital.
The ASX-listed company, which holds a 60% interest in JWD through its Wiluna subsidiary, says it is restarting operations on the back of improved iron-ore prices.
“It is pleasing to see the iron-ore price back at levels that allow mining to recommence at JWD. With the relaxing of Covid related restrictions expected to drive economic activity in China and continued strong demand for our product from Southeast Asia, we are optimistic that 2023 will offer a period of attractive pricing for JWD iron-ore.
“This, combined with an improved cost base arising from falling fuel prices lowering sea freight and road haulage costs and improved stripping rations favourably impacting mining costs means Cufe is well placed as we move into the next phase of JWD operations,” says executive director Mark Hancock.
Product will be ready for haulage to port by the end of the month.