Grange Resources Lifts Production as Savage River Delivers Strong Quarterly Performance

Grange Resources (ASX: GRR) has reported a robust September quarter with higher concentrate and pellet production, lower unit costs, and a 24% improvement in average realised prices, reflecting stronger market conditions and operational consistency at its Savage River operations in Tasmania.

The company produced 583,000 tonnes of concentrate and sold 591,000t of pellets during the quarter, while extending its outstanding safety record with more than 875 consecutive days injury free.

Chief executive officer Weidong Wang said mining and processing activities performed to plan, supporting Grange’s full-year production targets and cost guidance.

Higher Output, Lower Costs

Concentrate production rose 12% from the June quarter, with higher ore grades from the Centre Pit and improved mill recoveries.

Pellet output totalled 550,000t, slightly below the prior quarter as the site underwent maintenance in September.

Cash operating costs fell to $163.37/t, down from $182.32/t in the June quarter, due to increased production volumes and the completion of a waste stripping campaign at Centre Pit, demonstrating the benefits of improved ore access and steady downstream performance.

The average realised price for Grange’s products increased to $203.72/t free on board at Port Latta, up 23.98% from the previous quarter’s $164.32/t.

The company said higher sales prices, coupled with increased shipments, underpinned stronger cash flow generation and boosted total cash and liquid investments to $272.8 million at the end of September, up from $239.4m at the end of June.

Growth Projects Advancing

Work on the North Pit Underground project continued, with site ventilation improvements and dewatering systems operating effectively through the winter period.

Independent technical due diligence is now underway, following strong interest from potential financiers.

At the Southdown magnetite project near Albany, Grange said it remains in discussions with prospective strategic partners while keeping tenements and approvals in good standing.

Grange continued its industry-leading safety performance, recording no lost-time injuries during the quarter.

The company said operational discipline and a focus on efficiency continue to drive strong performance at the long-life Savage River mine and Port Latta pellet plant.