Production at Marampa stopped on July 3 after a temporary suspension order issued by the new Minister of Mines and Mineral Resources, Foday Rado Yokie.
The mine produces a high-grade iron ore concentrate of more than 65% of iron content. The first shipments were made in June this year and destined for China.
Fastmarkets’s
iron ore 66% Fe concentrate cfr Qingdao index reached a five-year high of $125.12 per tonne on July 5 and was at $120.76 per tonne on August 2.
“We can confirm that a temporary operating suspension imposed by the Minister of Mines (MoM) expired on July 24, following which the MoM requested that we do not export material, until they review compliance with...
