The ASX-listed company said on Wednesday that the mine will be left in a production-ready state to take advantage of a recovery in iron-ore prices, with a total of 172 500 t of ore either on the run-of-mine pad or crushed and stockpiled, ready for transport.
A further 143 000 t of ore is broken and ready to be dug from the pit.
The company told shareholders that it was currently engaged with other iron-ore producers that had expressed interest in accessing the mined high-grade ore in order to blend with their own product.
While operations have been suspended, the GWR board and management will complete an assessment of project economics and review market sentiment and predictions for the iron-ore price for the remainder of 2021 and 2022.
“While it is disappointing that mining operations have temporarily ceased at the C4 iron-ore mine, it is important to note GWR remains in a strong positon to resume operations as the mine will be left in a production ready state in order to take advantage of a recovery in iron-ore prices,” said chairperson Gary Lyons.
“GWR is currently engaged with other iron-ore producers who have expressed interest in accessing. via minegate sale, the mined high grade ore in order to blend it with their product.
